What are preliminary earnings — why Samsung's 107.4 trillion won can still change
Preliminary earnings are results a company estimates and discloses before it has finished closing its books for the quarter. In South Korea, large listed companies such as Samsung Electronics and LG Electronics typically release only revenue and operating profit within one to two weeks of quarter-end, as a fair-disclosure filing on the Korea Exchange. On October 8, 2026, Samsung reported preliminary third-quarter revenue of 195 trillion won and operating profit of 107.4 trillion won, with no net profit or figures for memory, foundry or mobile. Those come with the full results at the end of October and in the quarterly report due within 45 days of quarter-end. Figures can shift during closing: Samsung's operating profit for the third quarter of 2025 went from 12.1 trillion won preliminary to 12.2 trillion won final
The three lines
- Definition — a company's pre-closing estimate of quarterly results; often just revenue and operating profit
- vs final — final results add net profit and division data; Samsung Q3 2025 went 12.1T → 12.2T won
- Timing — preliminary 1–2 weeks after quarter-end, final at month-end, quarterly report within 45 days
Key questions
- Preliminary vs final earnings difference
- **Preliminary is a fast estimate; final comes after the books close.** | Item | Preliminary | Final | |---|---|---| | Timing | 1–2 weeks after quarter-end | ~4 weeks after quarter-end | | Basis | Pre-closing estimate (K-IFRS) | Completed closing | | Content (Samsung) | Revenue, operating profit | + net profit, divisions, balance sheet | | Explanation | Usually none | Earnings call and Q&A |
- Samsung preliminary vs final earnings example
- **Differences are usually tens to hundreds of billions of won.** | Quarter | Preliminary operating profit | Final operating profit | |---|---|---| | Q3 2025 | 12.1T won (Oct 14, 2025) | 12.2T won (Oct 30, 2025) | | Q3 2026 | 107.4T won (Oct 8, 2026) | Due late October |
- When does Samsung release full Q3 results
- **Usually in the last week of October, with an earnings call.** | Date | Release | |---|---| | Oct 8, 2026 | Q3 preliminary (revenue, operating profit) | | Late Oct (expected) | Full results, division data, call | | By mid-Nov | Quarterly report (within 45 days of quarter-end) | The 2026 date has not been announced.
Preliminary earnings are a fast number, not a final one — and sometimes the market moves on waiting for the next number. Samsung Electronics reported preliminary third-quarter operating profit of 107.4 trillion won on October 8, 2026, yet its shares fell 2.42%. One reason brokers cited: with no division figures, interpretations diverged (see "Samsung Q3 operating profit hits 107.4 trillion won"). Knowing what a preliminary release contains, and what it leaves out, explains that reaction.
1. What preliminary earnings are
Preliminary earnings are results a company estimates from data gathered so far and discloses before finishing its quarterly closing. In Korea they are filed as a "fair disclosure" on the Korea Exchange, a rule meant to stop some investors from hearing first.
| Item | Detail |
|---|---|
| Timing | Usually 1–2 weeks after quarter-end (Samsung: first week) |
| Basis | Pre-closing estimate under Korean IFRS |
| Filing type | Fair disclosure, "operating (preliminary) results" |
| Required? | Voluntary; each company decides |
| Who does it | Large caps such as Samsung Electronics, LG Electronics |
| Samsung's wording | "Estimates prepared before closing has been completed" |
U.S. companies generally don't do this; they publish one earnings release per quarter.
2. Three releases, three levels of detail
| Item | Preliminary | Full results | Quarterly report |
|---|---|---|---|
| Timing (Q3) | Early October | Late October | Within 45 days (mid-November) |
| Revenue, operating profit | Yes | Yes | Yes |
| Net profit | No (Samsung) | Yes | Yes |
| Division results | No | Yes (memory, foundry, mobile…) | Yes |
| Balance sheet, cash flow | No | Partial | Yes |
| Management commentary | None | Earnings call, Q&A | Written |
| Legal basis | Exchange fair disclosure | Exchange fair disclosure | Capital Markets Act (DART) |
Samsung's early-October release has only two numbers. How much the chip business earned, how big high-bandwidth memory was, and how much the stronger won cost all come at the end of October. Samsung said it would collect questions in advance and address the most-asked topics on its call.
3. How much numbers change: real cases
| Quarter | Preliminary (date) | Final (date) | Difference |
|---|---|---|---|
| Q3 2025 revenue | 86T won (Oct 14) | 86.1T won (Oct 30) | ~+0.1T won |
| Q3 2025 operating profit | 12.1T won | 12.2T won | ~+0.1T won |
| Q3 2026 operating profit | 107.4T won (Oct 8) | Due late Oct | — |
| Why figures shift | Example |
|---|---|
| Provisions finalized | Inventory write-downs; bonus and litigation provisions |
| Currency effects | Quarter-end rates applied to foreign assets and liabilities |
| Subsidiary closing | Overseas units' results consolidated |
| One-off items | Restructuring, impairments |
Differences are usually small, but at 100 trillion won of profit even 0.5% equals about 500 billion won. At companies like SK Hynix, where bonus provisions are tied to profit, how those costs land at closing can move the final figure. Separately, Korean exchange rules require a disclosure when revenue or profit structure changes sharply from the prior year (15% for large companies, 30% for others).
4. How to read a preliminary release
| Check | Why |
|---|---|
| Gap versus consensus | Shares react to surprise, not size |
| Which consensus | Samsung Q3: +1.6% vs latest, −3.6% vs ten days earlier |
| Quarter-on-quarter trend | Is growth slowing? (This time +20%) |
| What's missing | No division data means wider interpretations and volatility |
| Date of full results | When the next catalyst arrives |
5. FAQ
| Question | Answer |
|---|---|
| Do all listed companies issue them? | No, they are voluntary |
| Penalties if preliminary and final differ a lot? | Deliberate or grossly negligent misstatements can be sanctioned as unfaithful disclosure |
| Where to read the filings? | Korea Exchange KIND and the FSS's DART, searchable by company |
6. What remains unclear
- Samsung's full-results date: not yet announced; past practice is the last week of October.
- Division figures: memory, foundry and mobile profits appear only with the full results.
- Exact Q3 2025 final figure: the rounded 12.2 trillion won is used.