Samsung Electronics is expecting a 78% drop in operating Profit for the third quarter, with revenue estimated at 67 trillion South Korean won ($50.02 billion). This is an increase from the second quarter and slightly higher than analyst expectations. The company, known for its memory chips and smartphones, recorded 76.78 trillion won in sales and 10.85 trillion won in operating profit a year ago. Despite the projected decline in profit, shares of Samsung surged 3.16% on Wednesday, making it the largest gainer on the South Korean Kospi and leading gains in Asia.
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