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Samsung posts record Q3 profit as smartphone sales near 90 million

Published Oct 25th, 2013 8:00AM EDT

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Samsung on Friday released its audited earnings report for the third quarter, confirming performance that has once again climbed to new records on the back of its Galaxy smartphone line. The electronics giant reported earlier this month that it would post an operating profit of between $9.2 billion and $9.6 billion, and the company caught the top end of that estimate. Samsung’s record $9.6 billion operating profit was up 26% from the year-ago quarter, and the company also topped its earlier record for quarterly net profit as Q3 net climbed to $7.76 billion on $55.6 billion in revenue.

Sales of Samsung’s flagship Galaxy S4 smartphone may be slowing significantly, but low-end smartphone revenue picked up dramatically in the third quarter, giving Samsung a huge boost. According to The Wall Street Journal, analysts estimate that Samsung sold between 85 million and 89 million smartphones into channels last quarter. By comparison, Apple is expected to have sold fewer than 35 million iPhones last quarter.

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.