Samsung Electronics Expects 16-Fold Increase in Second-Quarter Operating Profit
By Kwanwoo Jun
Samsung Electronics forecast a surge in second-quarter earnings, suggesting that its flagship semiconductor business sustained a strong recovery after a turnaround in the first quarter.
The South Korean technology giant said in a preliminary earnings report Friday that its quarterly operating profit is expected at 10.400 trillion won ($7.52 billion), a nearly 16-fold increase from KRW670.00 billion a year earlier.
The estimate beat a FactSet-compiled consensus forecast of KRW8.547 trillion.
Revenue is estimated to increase 23% to KRW74.000 trillion, Samsung said, above the FactSet consensus estimate.
The company didn't provide further details. It is set to release full quarterly results later this month.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
July 04, 2024 20:10 ET (00:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks
United States