April 26, 2024

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[THE INVESTOR] Samsung Electronics said in its earnings preview on July 7 that it expects the operating profit of the April-June period to stand at 14 trillion won ($12.1 billion won), a new record high, thanks mainly to robust sales of memory chips and smartphones.

The second quarter operating profit increased 71.99 percent on year. The previous quarterly operating profit record was 10.1 trillion won set in the third quarter of 2013. 

The quarterly revenue is expected to come in at 60 trillion won, up 17.79 percent from a year earlier, the company said.

The operating profit estimate surpassed a market consensus of around 13.2 trillion won, compiled by market research firm FnGuide.

The soaring prices and increased demand of the DRAM and NAND memory chips are thought to have contributed to the higher-than-expected profits.

The tech giant is estimated to have earned more than half of the 14 trillion won operating profit from the semiconductor business while its mobile, display panel, and consumer electronics businesses are forecast to have earned 4 trillion won, 1.5 trillion won and 800 billion won, respectively.

By Kim Young-won (wone0102@heraldcorp.com)