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Samsung posts record-high operating profit for Q2

All Headlines 08:34 July 07, 2017

By Kang Yoon-seung

SEOUL, July 7 (Yonhap) -- South Korean tech giant Samsung Electronics Co. predicted Friday that its second-quarter operating profit shot up nearly 72 percent on-year to post a record-high quarterly level, apparently helped by the robust performance of its chip business.

Operating profit is estimated at 14 trillion won (US$12.1 billion) in the April-June period, compared with 8.14 trillion won posted a year earlier, the South Korean tech giant said in its regulatory filing.

It marks the highest quarterly operating profit ever posted by Samsung Electronics. The previous record was set in the third quarter of 2013, when Samsung's operating profit hit 10.1 trillion won.

The company added its sales moved up 17.8 percent to reach 60 trillion won over the cited period.

Samsung did not announce the performance of each business division. The company is set to release the finalized earnings report later this month.

The second-quarter operating profit hovered above the market's earlier estimate of 13.1 trillion won, compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency, on 23 South Korean brokerage houses.

Shares of Samsung Electronics closed 1.01 percent higher at 2,403,000 won Thursday. The second-quarter prediction was released before the main bourse opened Friday.

colin@yna.co.kr
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