According to a research report published by Yamato, Samsung Electronics' initial results for the third quarter remained stable, with revenue of 195 trillion won, up 14% month-on-month and 127% year-on-year, slightly lower than the bank's and market estimates; operating profit of 107.4 trillion won, up 20% month-on-month and 782% year-on-year, in line with the bank's estimates, but slightly below market consensus. Despite exchange headwinds and employee bonus provisions being dragged down by the appreciation of the won, memory prices continued to rise, along with improvements in mobile phone and display product portfolios, driving steady performance. In terms of memory, the bank estimates that DRAM/NAND bit-element shipments recorded low single-digit month-on-month increases, with the average sales price of both increasing by about 20%; losses in foundry manufacturing narrowing; and profits in the display equipment and mobile phone business were also better than the bank's earlier expectations. The bank expects fourth-quarter earnings to improve further as memory continues to be strong, and expects the company to announce additional shareholder returns, including repurchase plans, during the October 29 results conference call. The bank maintains Samsung Electronics' “buy” rating and a 12-month target price of 500,000 won.

According to a research report published by Yamato, Samsung Electronics' initial results for the third quarter remained stable, with revenue of 195 trillion won, up 14% month-on-month and 127% year-on-year, slightly lower than the bank's and market estimates; operating profit of 107.4 trillion won, up 20% month-on-month and 782% year-on-year, in line with the bank's estimates, but slightly below market consensus. Despite exchange headwinds and employee bonus provisions being dragged down by the appreciation of the won, memory prices continued to rise, along with improvements in mobile phone and display product portfolios, driving steady performance. In terms of memory, the bank estimates that DRAM/NAND bit-element shipments recorded low single-digit month-on-month increases, with the average sales price of both increasing by about 20%; losses in foundry manufacturing narrowing; and profits in the display equipment and mobile phone business were also better than the bank's earlier expectations. The bank expects fourth-quarter earnings to improve further as memory continues to be strong, and expects the company to announce additional shareholder returns, including repurchase plans, during the October 29 results conference call. The bank maintains Samsung Electronics' “buy” rating and a 12-month target price of 500,000 won.