Samsung estimates its operating profit surged 80 percent in the 3rd quarter
{{#rendered}} {{/rendered}}Samsung Electronics Co. says its third-quarter operating profit surged by 80 percent over a year earlier.
In an announcement that beat analysts' expectations, the South Korean smartphone maker said Wednesday that its operating profit for the July-September quarter was 7.3 trillion won ($6.3 billion).
The result shows that Samsung is on track for a recovery. Its operating profit has gained from quarter to quarter for the past year since falling to 4.1 trillion won one year ago.
{{#rendered}} {{/rendered}}Analysts say favorable foreign exchange rates, such as South Korean currency's sharp drop against the U.S. dollar, also helped Samsung.
Sales rose 7 percent to 51 trillion won for the quarter.
Samsung will announce its net profit and earnings breakdowns for each of its business divisions later this month.