Samsung Electronics achieved a historic milestone by reporting an operating profit of 100 trillion won for a single quarter for the first time, yet its stock price fell by more than 2% on the same day. Experts noted that market interpretations of the results could vary and emphasized the importance of the conference call scheduled for the 29th, where next year's performance outlook and shareholder return plans will be discussed.
According to a disclosure made on October 8 through the Financial Supervisory Service's electronic disclosure system (DART), Samsung Electronics announced its preliminary results for the third quarter of 2026, reporting sales of 195 trillion won, a 126.6% increase compared to the same period last year. The operating profit reached 107.4 trillion won, marking a 782.5% increase year-on-year.
These figures surpass the previous record set in the second quarter (April to June), which had sales of 171.5 trillion won and an operating profit of 89.5 trillion won. Notably, the operating profit slightly exceeded the consensus estimate of 106 trillion won compiled by financial information provider FnGuide.
Despite the results exceeding market expectations, Samsung's stock price declined. The shares closed at 268,500 won, down 6,500 won (2.42%) from the previous trading day. Initially, the stock showed a gain of over 1% in pre-market trading but soon reversed course. The trading volume exceeded 20 million shares, with selling pressure driving the price down.
Analysts attribute the decline to heightened market expectations for Samsung's operating profit. With expectations for semiconductor stocks already significantly elevated, results that only slightly exceed market forecasts may not provide enough momentum for further stock price increases. For instance, U.S. semiconductor company Micron also reported results above market consensus but did not see a significant stock price reaction.
Some analysts suggest that the market may have already priced in the strong performance. Lee Kyung-min, a researcher at Daishin Securities, stated, "While Samsung's operating profit of 107 trillion won exceeded market expectations, there was a sell-off as some investors took profits. Amid pressures from interest rates and oil prices, the market, which was hoping for a turnaround from Samsung's results, appears to have been dampened by the stock's decline."
There is also a view that guidance on next year's performance will be more critical than this year's results. Han Ji-young, a researcher at Kiwoom Securities, noted, "Since this announcement is a preliminary result, the lack of detailed figures may lead to varied interpretations regarding exchange rate impacts and performance by business segment. The market may also face short-term supply issues due to the holiday on the 9th."
Some analysts believe the market will take time to digest the results positively. Kim Hak-kyun, a researcher at Shin Young Securities, remarked, "The market reacts immediately to certain information like a 'light bulb,' while it takes time to respond to other information. This time, it seems the market will take a while to process the results, but given the positive nature of the results, the market is unlikely to delay its reaction for long."
Future stock performance for Samsung Electronics is expected to hinge on next year's profit estimates and shareholder value enhancement measures. One analyst stated, "Rather than immediate changes in memory demand, the market is concerned about whether tight supply and high margins can be maintained after the expansion of the three major memory companies in 2027-2028. We need to closely monitor changes in next year's profit estimates."
Kim added, "The conference call at the end of this month will be crucial, and we should pay attention to mentions of next year's profit outlook and remaining shareholder returns for this year."
* This article has been translated by AI.
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