Samsung stock plunges over 6% despite record $80B profit: here's why
Samsung Electronics shares plunged more than 6% in Seoul on Thursday despite reporting a record quarterly operating profit of $80 billion. The stock reversed an early gain, falling 6% to 231,500 won. Third-quarter operating profit surged 783.1% from a year earlier to 107.4 trillion won. But the headline numbers concealed weaker consumer businesses, elevated expectations for chip earnings and a dividend announcement that offered little surprise. Samsung Q3 earnings: Why record chip earnings disappointed investors Revenue more than doubled to 195.3...