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Samsung Electronics flags 53per cent jump in Q2 profit, tops estimates Toggle share menu
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Samsung Electronics flags 53per cent jump in Q2 profit, tops estimates Samsung Electronics Co Ltd said on Wednesday its second-quarter operating profit likely jumped 53per cent, beating analysts estimates, as strong chip prices and demand lifted earnings.
FILE PHOTO: The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, April 4, 2016. REUTERS/Kim Hong-Ji/File Photo
07 Jul 2021 09:05AM (Updated:
07 Jul 2021 09:50AM) Share this content
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SEOUL -Samsung Electronics Co Ltd on Wednesday reported a likely 53per cent jump in second-quarter operating profit, beating market estimates on the back of strong chip prices and demand despite lower smartphone sales.
Samsung Electronics flags 53% jump in Q2 profit, tops estimates
By Joyce Lee and Heekyong Yang
Reuters
SEOUL (Reuters) - Samsung Electronics Co Ltd on Wednesday reported a likely 53% jump in second-quarter operating profit, beating market estimates on the back of strong chip prices and demand despite lower smartphone sales.
The preliminary result is up 33% from the first quarter and underscores the soaring demand for chips that has depleted stockpiles amid a pandemic-led consumer appetite for electronics and recovering investment in data centres.
The world s largest memory chip and smartphone maker said profit for the quarter ended June 30 was likely 12.5 trillion won ($11 billion), well above a Refinitiv SmartEstimate of 11.3 trillion won. If confirmed later this month, it would be the tech giant s biggest second-quarter profit since 2018.