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Samsung Sees 22.7% Rise In Q2 Operating Profit

samsung 06jul20

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its second-quarter operating profit will rise about 22.73 percent from last year, due to increasing demand for server chips as countries around the world adopt work-from-home measures during the coronavirus pandemic. But, it projects sales will decrease 7.36 percent.

The South Korean tech giant projects operating profit of about 8.10 trillion Korean won in the second-quarter, compared to 6.60 trillion won reported last year. While it reported operating profit of about 6.45 trillion won in the first-quarter.

The company also expects second-quarter consolidated sales of about 52.00 trillion won compared to 56.13 trillion won last year. It reported consolidated sales of about 55.33 trillion won in the first-quarter.

Second-quarter earnings results will be released later this month.

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