Samsung (NASDAQ:SSNLF) posts another quarter with a record profit attributed mainly to higher sales of handsets and stronger demand for display panels. Total revenues were up 26% year-on-year to 52.18 trillion won. Third-quarter operating profit came in at an all-time high of 8.12 trillion won, up 91% year-on-year, with net profit at 6.56 trillion won. The bellwether mobile business reported operating profits of 5.63 trillion won on revenues of 29.92 trillion won. The company expects the smart phone market to continue its growth momentum and increased demand, specially in emerging markets, in the fourth quarter.
According to a report in Reuters, General Motors’ (NYSE:GM) loss-making German unit, Opel, failed to reach agreement with its labour unions regarding a restructuring plan that includes the closure of of a plant located at Bochum.
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Starbucks (NASDAQ:SBUX) races to up its presence in unrepresented India by opening two more stores in Mumbai, close on the heels of its first store opened on Friday. According to chief executive Howard Shultz, India and China would be the fastest growing markets for the company.
Coinstar’s (NASDAQ:CSTR) Redbox has struck a deal with Warner Bros whereby the latter reduces the number of days that Redbox must wait before offering studio DVDs. Warner Brothers will now make DVD’s available for rental in Redbox kiosks in just 28 days instead of 56 days as of now.
Comcast (NASDAQ:CMCSA) reports third quarter EPS of $0.46 which matches expectations, while revenues of $14.3 billion miss by $1.7 billion, though up 15.4% year-on-year. Revenues at Cable Communications was up 6.9% to $10 billion. Combined Video, High-Speed Internet and Voice Customers increased 28.1% to 294,000 compared to the same period a year ago. Revenues at NBC Universal climbed 31.2% to $6.8 million riding on the back of the 2012 London Olympics. Revenues at Cable Networks up 3.2% to $2.2 billion. Revenues from Broadcast Television increased a strong 83.8% to $2.8 billion. Box office hits Ted and The Bourne Legacy lead to increased revenue of $1.4 billion, up 23.6%, at the Filmed Entertainment unit.