TL;DR — If you hold EWY. Samsung Electronics reported third-quarter operating profit of ₩107.4 trillion (about $80 billion) on Oct. 8. The filing contains only two numbers, revenue and operating profit; net profit and the business-by-business breakdown come on Oct. 29. Samsung’s Seoul-listed shares fell 2.42% and closed at the day’s low.
Not financial advice.
What did Samsung report? Two numbers.
At 7:44 a.m. Seoul time on Thursday, Oct. 8, Samsung Electronics filed its preliminary third-quarter results: revenue of ₩195 trillion (about $146 billion) and operating profit of ₩107.4 trillion (about $80 billion). That is a 55.1% operating margin, and nearly nine times the ₩12.17 trillion it earned in the same quarter last year. But the filing holds nothing beyond those two numbers: the net profit line is blank, and there is no breakdown by business (chips, phones, TVs). The rest comes on an Oct. 29 earnings call. Samsung closed down 2.42% at ₩262,000, and KOSPI, Korea’s main stock index, closed down 2.62% at 6,625.93. Both closed at the day’s low.
What this means if you hold EWY. Samsung Electronics is 22.77% of EWY (iShares, as of Sept. 30). On Thursday, Korea’s market priced more than a fifth of your fund on two unaudited numbers. The full picture arrives on Oct. 29.
Dollar conversions are for scale only, at the Oct. 8 Seoul rate of ₩1,338.5 per dollar reported by Businesskorea (press-reported). Stock and index prices are KRX (Korea Exchange) regular-session closes (15:30 Seoul time).
What’s in the filing, and what isn’t
| Item (trillion won) | 3Q 2026 | 2Q 2026 | 3Q 2025 |
|---|---|---|---|
| Revenue | 195.00 | 171.50 | 86.06 |
| Operating profit | 107.40 | 89.49 | 12.17 |
| Net profit | not stated | — | — |
| By business | no such line |
Source: Samsung Electronics, preliminary consolidated results filing, DART (Korea’s official electronic filing system, similar to the SEC’s EDGAR), Oct. 8, 2026 (company filing). Consolidated, unaudited.
How to read it: revenue is reported to the nearest whole trillion won (195.00), operating profit to the nearest 0.1 trillion. One trillion won is about $750 million. In the filing, the company says the figures are preliminary and “may differ from the final figures,” and that the outside auditor’s review “has not been completed.”
The filing is made under Korea’s fair disclosure category (gongjeong gongsi: when a company gives information to one investor, it must give it to all investors at the same time). It came eight days after the quarter ended.
With a number this big, check the source: operating profit for the first nine months of 2026 was ₩254.13 trillion, which is 5.8 times Samsung’s operating profit for all of 2025 (₩43.53 trillion, from its preliminary filing in January). Both figures come from the Oct. 8 filing and the Jan. 8 filing.
The cycle: profit keeps growing, the growth keeps slowing
| Quarter | Operating profit (preliminary) | Change from prior quarter |
|---|---|---|
| 1Q 2026 | ₩57.20 trillion | +185.00% |
| 2Q 2026 | ₩89.40 trillion | +56.21% |
| 3Q 2026 | ₩107.40 trillion | +20.01% |
Source: Samsung Electronics preliminary results filings, DART (company figures). 2Q is shown at the preliminary 89.40; the +20.01% for 3Q is the company’s own figure, measured against the final 89.49 shown in the first table.
Each quarter set a new company record for operating profit (comparing Samsung’s own quarters), but the growth rate fell from 185% to 56% to 20%. There are two ways to read that.
- “The cycle is near its peak.” A Morgan Stanley analyst warned that the speed-up in DRAM (memory chip) prices was close to peaking and cut the 2026 earnings-per-share forecast for Samsung by 10%, according to Korean media (press-reported, not confirmed from a primary source).
- “This time is different.” A Korean brokerage analyst argued that the memory shortage lasts through 2027, and the research firm TrendForce was reported to forecast DRAM contract prices, including HBM (high-bandwidth memory used in AI chips), rising 15–20% in the fourth quarter (press-reported).
Thursday’s filing can’t settle that. The number you’d need, how much memory earned, isn’t in it.
Where the currency fits in the profit line
A large share of Samsung’s sales is in dollars. When the won strengthens, the same dollar sales are worth fewer won. The won was at ₩1,338.5 per dollar in Seoul on Oct. 8, from ₩1,340.4 the day before (Businesskorea, single source). Korean media argued that the third-quarter average rate was lower than in the first half (a stronger won), which shaved the won value of sales (press-reported). The company did not disclose any currency effect; that’s for Oct. 29.
Who sold on Thursday
By one Korean outlet’s tally, foreigners net sold ₩1.56 trillion (about $1.17 billion) of KOSPI stocks on Thursday and institutions net sold ₩1.16 trillion, while individuals net bought ₩2.68 trillion (Businesskorea, single source, press-reported). The outlet pointed to afternoon program selling (automated basket trades by funds and traders) around the monthly options expiry (the date index options settle) and to the end of Samsung’s share buyback. We could not confirm cause and effect.
KOSPI fell for a third straight session. Over this three-session week (Oct. 6–8), it fell 5.39%, from 7,003.74 to 6,625.93.
How reliable have the two numbers been?
Look back at the last three quarters. Below, each preliminary figure sits next to the final figure, which Samsung prints as “prior quarter” in its next preliminary filing.
| Quarter | Revenue: preliminary → final | Operating profit: preliminary → final |
|---|---|---|
| 4Q 2025 | 93.00 → 93.84 | 20.00 → 20.07 |
| 1Q 2026 | 133.00 → 133.87 | 57.20 → 57.23 |
| 2Q 2026 | 171.00 → 171.50 | 89.40 → 89.49 |
Trillion won. Source: four Samsung Electronics preliminary results filings on DART (Jan. 8, Apr. 7, Jul. 7, Oct. 8, 2026).
All three times, the final figure came in slightly higher, and the operating profit gap was at most ₩0.09 trillion, between 0.05% and 0.35% of the preliminary figure. Whether the two numbers are accurate has not been the problem.
| Filing day | Samsung Electronics | KOSPI |
|---|---|---|
| Jan. 8 (4Q 2025) | −1.56% | +0.03% |
| Apr. 7 (1Q 2026) | +1.76% | +0.82% |
| Jul. 7 (2Q 2026) | −6.92% | −4.91% |
| Oct. 8 (3Q 2026) | −2.42% | −2.62% |
KRX closes vs. prior close. Computed from vendor price data (Yahoo Finance).
On three of the four days Samsung reported sharply higher profit, the stock fell. The table shows timing only, not cause: on July 7 the whole index fell 4.9%.
We don’t call this quarter a beat or a miss. The analyst consensus (the average forecast before results) for operating profit quoted in Korean media ranged from about ₩105.4 trillion to more than ₩110 trillion, and none of the reports named who compiled it. Revenue came in below both revenue consensus figures we saw quoted (above ₩200 trillion) (press-reported).
What’s next on the calendar
- Fri., Oct. 9: KRX closed for Hangul Day (Korean Alphabet Day). Seoul reopens Mon., Oct. 12. U.S. markets are open Oct. 9, so EWY trades while Seoul is shut.
- Thu., Oct. 22: Bank of Korea interest-rate decision.
- Thu., Oct. 29, 10:00 a.m. Seoul (9:00 p.m. Wed., Oct. 28, U.S. Eastern): Samsung’s third-quarter earnings call, in Korean and English, with results by business and net profit (company notice on DART).
What this shows about Korea’s market
Under the Gat (our take). “The numbers are almost certainly right. What they leave out is the part you’re paying for.”
Every quarter, Korea’s earnings season starts the same way: the country’s largest company by market value files two unaudited numbers about a week after the quarter ends. Those two numbers sit behind about 23% of EWY and a large share of KOSPI’s market value. And the last three quarters say the two numbers were accurate.
So the question the market was likely chewing on Thursday wasn’t “Is ₩107 trillion right?” It was “How much of ₩107 trillion is memory, and how much longer can that run?” Industry estimates put the chip division’s (DS) profit at about ₩108 trillion, more than the company total, which would mean the other businesses lost money. That is an industry estimate, not company data (an analyst estimate, not company guidance). We’ll know on Oct. 29.
For a U.S. investor, here’s what that structure means: if you hold EWY, more than a fifth of your fund is a company that, four times a year, sends the total first and the itemized bill three weeks later. The total has a good track record. But the stock’s move on filing day may reflect guesses about what’s inside the total.
How to get exposure, and a U.S. comparison
Access: Samsung Electronics (005930 🔴) shares are not listed in the U.S. The simplest exposure is EWY 🟢, where Samsung is 22.77% (as of Sept. 30). Some brokers also reach the KRX directly. We compare the routes in Can You Buy DRAM Stocks in the US?
U.S. anchor — Micron (MU 🟢): Micron reports its quarter all at once: results by business, net income and guidance for the next quarter. Samsung does it in two steps: two numbers first, the rest three weeks later.
Not a perfect parallel: Micron’s fiscal quarters end on different dates than Samsung’s calendar quarters, and Samsung is a conglomerate that also makes phones, TVs and chips for other companies (foundry), not just memory.
For how Seoul’s two chip giants traded earlier this week, see Korea Opened Higher. Its Two Chip Giants Fell. For Samsung’s components affiliate, see Samsung Electro-Mechanics: $2.7B of Orders, No Buyer Named.
The bottom line
On Thursday Samsung filed a record quarter for the company, explained by just two numbers. The two numbers are probably right; the last three were. What’s left is what’s inside them, and that answer comes on Oct. 29. Until then, Korea’s market will reread these numbers through other signals: Seoul’s reopening on Oct. 12 and the Bank of Korea’s decision on Oct. 22.
FAQ
What were Samsung Electronics’ third-quarter 2026 results?
Preliminary consolidated revenue of ₩195 trillion (about $146 billion) and operating profit of ₩107.4 trillion (about $80 billion), filed on DART on Oct. 8, 2026, converted at ₩1,338.5 per dollar.
Why did Samsung stock fall after strong earnings?
No cause has been confirmed. KOSPI as a whole fell 2.62% the same day, and local media cited options-expiry program selling, the end of Samsung’s buyback and worries about slowing growth. Operating profit growth from the prior quarter slowed from +185% in the first quarter to +56% in the second and +20% in the third (company filings).
When does Samsung report results by business?
On its earnings call at 10:00 a.m. Seoul time on Oct. 29 (9:00 p.m. U.S. Eastern on Oct. 28). Net profit comes then, too.
Are Samsung’s preliminary numbers reliable?
In each of the last three quarters, the final figures were slightly higher than the preliminary ones: revenue by ₩0.5–0.9 trillion and operating profit by ₩0.03–0.09 trillion. The direction and the size were both close.
Can I buy Samsung Electronics stock in the U.S.?
It isn’t listed on a U.S. exchange. EWY (about 23% Samsung) is the simplest indirect exposure, and a broker with KRX access can buy the shares directly.
Sources
- Samsung Electronics, preliminary consolidated operating results (fair disclosure), DART, Oct. 8, 2026 (primary).
- Same filing for earlier quarters: Jul. 7, Apr. 7, Jan. 8, 2026 (primary).
- Samsung Electronics, investor relations event notice, DART, Oct. 8, 2026 (primary).
- KRX closes: Yahoo Finance chart data (005930.KS, ^KS11; vendor data).
- EWY weights: iShares EWY holdings, as of Sept. 30.
- Won rate and investor flows: Businesskorea (Oct. 8) (press).
- Consensus (above ₩200 trillion revenue, above ₩110 trillion operating profit): Sedaily (Oct. 4) (press).
- Consensus, division estimates and analyst views: The Economy, AI Times (press).
How sure are we?
| Item | Confidence |
|---|---|
| Revenue and operating profit, all four quarters | ✅ Company filing on DART (preliminary, unaudited) |
| Oct. 29 earnings call | ✅ Company notice on DART |
| Stock and index moves | Computed from vendor price data (Yahoo), KRX closes |
| Won rate and investor flows | ⚠️ Press-reported, single source |
| Consensus figures | ⚠️ Press-reported; figures differ by outlet, compiler not named |
| Chip division profit of about ₩108 trillion | ⚠️ Industry estimate, not confirmed |
Ticker key. 🟢 US-listed — buy in a US brokerage. 🔴 Seoul-listed only — no US ADR; watch, not buy directly.
Not financial advice. TheGatBull is an independent publication; nothing here is a recommendation to buy or sell any security.
Written by Mr.Gat — TheGatBull
Korean market coverage from a Seoul-metro-based operator who reads the filings in the original language. Every price on this site is the KRX regular-session close (15:30 Seoul); every figure states whether it came from a primary filing, the press, or our own calculation. Drafts are AI-assisted, then verified against the original Korean documents and edited by a human before publishing.
Found an error? Tell us — corrections get priority. How we work →