Samsung Elec estimates a 32% rise in Q3 operating profit, topping expectations

SEOUL (Reuters) -Samsung Electronics on Tuesday projected a 32% rise in third-quarter operating profit from a year earlier, beating analysts' estimates as demand for conventional memory chips helped offset the company's weaker high bandwidth memory chip sales. The world's largest memory chipmaker estimated an operating profit of 12.1 trillion won for the July-September period, versus a 10.1 trillion won LSEG SmartEstimate. Revenue would likely rise 8.7% to 86 trillion won from a year earlier, the filing showed. Samsung is expected to release detailed results including a breakdown of earnings for each of its businesses later this month. (Reporting by Heekyong Yang, Joyce Lee and Hyunjoo Jin; Editing by Chris Reese and Sonali Paul)

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