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10/29, 12:56 AM (Source: TeleTrader)
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Samsung's Q3 revenue rises 7.9% YoY to $58.9B

Samsung Electronics Co. unveiled that its revenue beat estimates and landed at 66.96 trillion won ($58.9 billion) in the third quarter of fiscal 2020 after a 7.9% increase compared to the same three months a year before.

During the same period, the firm's operating profit amounted to 12.35 trillion won ($10.9 billion), which marks a 52% jump compared to the quarter ended June 30 and a whopping 59% surge in regards to the third quarter of fiscal 2019. South Korean tech giant's basic earnings per share reached 1,364 won ($1.2) after a 51.7% soar from 899 won ($0.79) seen in the quarter ended September 30, 2019.

"Even as the COVID-19 pandemic continues around the world, reopening of key economies led to significant increase in consumer demand," the company said in a statement.

Breaking the News / BU