Samsung Electronics 1st Korean firm to top $80 bil. in quarterly operating profit
Samsung Electronics on Thursday estimated 107.4 trillion won ($80.28 billion) in operating profit for the third quarter, becoming the first Korean company to surpass 100 trillion won in quarterly operating profit. In a regulatory filing, the company said its third-quarter operating profit and revenue are each estimated at 107.4 trillion won and 195 trillion won, respectively. If the figures are finalized when the company announces its full earnings results on Oct. 29, they would represent year-on-year increases of 782.5 percent in operating profit and 126.6 percent in sales. Beside Samsung, no other company in the world expect for Saudi Arabia's state-owned oil company Aramco has posted a quarterly operating profit exceeding that amount. Aramco reported $86.5 billion in operating profit in the second quarter of 2022. The operating profit surpassed brokerages’ consensus estimate of 106.64 trillion won, though sales fell slightly short of the 200.64 trillion won forecast. The earnings are particularly significant as they exceeded expectations despite concerns that the Korean won's sharp
Read full articleMORE NEWS
I spent thousands on a ‘potentially dangerous’ marathon. I’d do it again
I fell short of my goal and blew my budget. But here’s how joggers like me are keeping the economy running.
‘Looksmaxxing’ influencer Clavicular pleads not guilty to rape charge
The 20-year-old influencer agreed to surrender his passport and will not contact or post about the woman who has accused him of assault.
Talarico accuses Musk of buying his ‘own personal U.S. Senator’
Texas Democratic Senate candidate James Talarico hit back at Elon Musk, accusing the technology mogul of trying to "buy his own personal" senator through massive campaign donations for Talarico's opponent, Attorney General Ken Paxton (R). "There is something deeply wrong with a political system that allows one trillionaire to buy his own personal U.S. Senator,"...
They were already afraid. The Helen Haines attack reminds us why
The attack on Haines has further unsettled a woman who's already been deeply affected by gendered violence. She's likely not alone.
A $3-billion-dollar downgrade could send a ripple through a surging Australian industry
A dispute over power poles and broader community backlash may have ramifications for Australia's data centre boom, experts warn.
ASX set to slide as Wall Street falls; oil at highest since May
Drops for stocks in the artificial-intelligence industry are dragging markets down worldwide, while oil prices hit their highest levels since May on worries about the war with Iran.
Collingwood’s The Vine Hotel looking for new owner in $4m sale
The last of the Melbourne pubs embroiled in the spectacular collapse of Jon Adgemis’ Public Hospitality Group is up for grabs.
Catholic Church seeking $18m windfall for inner west uni site
The Catholic Church is testing the market with a heritage sale, while the White Fox online business “glows up” from being a tenant to landlord.
A Sydney council wants to add thousands of homes. Residents oppose such ‘radical change’
A plan that would allow 20-storey unit blocks in an inner-west suburb has enraged residents. Housing advocates welcome the proposal for more mid-rise apartments.
The funeral where the worlds of power, politics and organised crime came together
The 2023 burial of the father of former building union chief John Setka revealed the deep interconnections of Victoria’s troubled construction industry.
This Brisbane building might be the best of its kind in the country. Would anything like it be built today?
The architects were in fact using simple ideas gleaned from our well-loved Queenslander homes, scaled up to a city size.
Jack Zhang’s Airwallex brings in former Trump A-G to fend off US backlash
Under fire in the United States, Airwallex has brought in former attorney-general Bill Barr to lobby the Department of Justice and other officials in Washington, DC.