Samsung E&A posts 184% profit surge, announces 780 billion won buyback

Samsung E&A reported third-quarter operating profit of 500.6 billion won, up 183.6% year on year and nearly double market expectations, on revenue of 2.91 trillion won. The board approved a 780 billion won share buyback, with 690 billion won slated for cancellation. The company raised its full-year order guidance from 12 trillion to 19 trillion won.

• Operating profit of 500.6 billion won vs. roughly 250 billion won expected
• Q3 revenue 2.91 trillion won; net profit 216.7 billion won
• Order backlog stood at 27.2 trillion won at end of September
• Full-year operating profit target raised from 800 billion to 1.4 trillion won