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Samsung Shares Fall
Description
Samsung Electronics ($KRW@Korea) shares failed to hold onto earlier gains today after the company said its third-quarter profit was likely 28% higher than a year ago. That is set to be the South Korean company’s best quarterly profit in three years. Samsung shares rose more than 1% in early trade, but gave up those gains to close 0.14% lower. Consolidated sales for the quarter likely rose to a record high of 73 trillion won - up from 9% from a year ago. The company did not break down how each business unit performed, including its main profit-making semiconductor business.
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