Samsung profit soars to $7.3 billion on the strength of the Galaxy S III

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Jury tells Samsung to pay up, awards Apple $290 million in damages
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Jury tells Samsung to pay up, awards Apple $290 million in damages

Losing a $1 billion patent verdict could be a drop in the bucket if Samsung (005930) keeps raking in this kind of cash. Reuters reports that Samsung last quarter posted a record profit of $7.3 billion, largely on the strength of its smash-hit Galaxy S III smartphone, whose sales were more than able to offset the drop in orders for screens and chips from rival Apple (AAPL). Overall the company is expected to record a $25 billion profit for the entire year.

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