Samsung Electronics expects record-high Q2 profits
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Samsung Electronics said Friday it expects profits to jump 72 percent in the second quarter to a record high, amid soaring memory chip prices and increased demand for smartphones.
Operating profit is estimated at 14 trillion won ($12.1 billion) in the April-June period, up from 8.14 trillion won a year earlier, the tech giant said.
It marks the all-time high quarterly operating profit ever posted by Samsung Electronics, surpassing the previous record 10.1 trillion won set in the third quarter of 2013.
Sales for the April-June period are also expected to surge 17.8 percent on-year to 60 trillion won.
Samsung witholds sector-by-sector business performance until it releases its final earnings report later this month.
The earnings forecast surpassed a market consensus of around 13.2 trillion won compiled by FnGuide, a financial information service provider.
Questions & Answers
Q.What is the expected operating profit for Samsung Electronics in the second quarter?
What is the expected operating profit for Samsung Electronics in the second quarter?
Samsung Electronics estimates its operating profit for the April-June period will be 14 trillion won ($12.1 billion). This represents a 72 percent increase from the previous year.
Q.What factors are contributing to Samsung's anticipated record profit?
What factors are contributing to Samsung's anticipated record profit?
The expected record-high profit is attributed to soaring memory chip prices and an increased demand for smartphones. These two factors are driving the company's strong performance.
Q.How do these estimated Q2 profits compare to previous records?
How do these estimated Q2 profits compare to previous records?
The estimated 14 trillion won operating profit for Q2 marks an all-time high for Samsung Electronics. It surpasses the previous record of 10.1 trillion won, set in the third quarter of 2013.
Q.What is the expected sales figure for Samsung Electronics during this period?
What is the expected sales figure for Samsung Electronics during this period?
Sales for the April-June period are expected to reach 60 trillion won. This represents a significant 17.8 percent increase compared to the same period last year.
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