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Samsung Sees About 53% Rise In Q2 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its second-quarter operating profit will rise about 53.37 percent from last year, due to strong chip prices and operations resuming at a key US factory. It projects quarterly sales will increase 18.94 percent.

The South Korean tech giant projects operating profit of about 12.50 trillion Korean won in the second-quarter, compared to 8.15 trillion won reported last year. While it reported operating profit of about 9.38 trillion won in the first-quarter.

The company also expects second-quarter consolidated sales of about 63.00 trillion won compared to 52.97 trillion won last year. It reported consolidated sales of about 65.39 trillion won in the first-quarter.

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

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