October 4, 2018 / 11:37 PM / in a month

Samsung Elec says Q3 operating profit likely hit record high

SEOUL, Oct 5 (Reuters) - Samsung Electronics Co Ltd on Friday said its third-quarter operating profit likely rose to a record high, on demand from data centres and improved production yields.

The third quarter is, however, expected to mark a peak in earnings as a two-year super cycle of tight supply and soaring demand comes to an end, with prices of some types of chips already sliding sharply.

Samsung, in a regulatory filing, said July-September profit was likely 17.5 trillion won ($15.5 billion), compared with an average forecast of 17.2 trillion won in a Refinitiv poll of 15 analysts.

The firm did not elaborate on its performance and will disclose detailed earnings in late October. ($1 = 1,132.8500 won) (Reporting by Heekyong Yang and Ju-min Park; Editing by Stephen Coates and Edwina Gibbs)

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