December 3, 2022

By Kang Yoon-seung

SEOUL, July 7 (Yonhap) — South Korean tech large Samsung Electronics Co. predicted Friday that its second-quarter working revenue shot up almost 72 p.c on-year to publish a record-high quarterly degree, apparently helped by the strong efficiency of its chip enterprise.

The stronger-than-expected working revenue was estimated at 14 trillion gained (US$12.1 billion), in contrast with 8.14 trillion gained posted a 12 months earlier, the corporate mentioned in its regulatory submitting. It marks the best quarterly working revenue ever posted by the world’s main reminiscence chip and smartphone producer.

The earlier file was set within the third quarter of 2013, when Samsung’s working revenue hit 10.1 trillion gained.

Samsung’s second-quarter gross sales additionally set a brand new file by advancing 17.8 p.c to an unprecedented 60 trillion gained within the April-June interval.

The second-quarter working revenue hovered above the market’s earlier estimate of 13.1 trillion gained, compiled by Yonhap Infomax, the monetary information arm of Yonhap Information Company, on 23 South Korean brokerage homes.

Samsung didn’t announce the efficiency of every enterprise division. The corporate is about to launch the finalized earnings report later this month.

Analysts mentioned the record-high efficiency got here on the again of the improved cargo and value of DRAM and NAND merchandise.

The cell enterprise gathered floor on sturdy gross sales of the Galaxy S8 smartphones, which elevated the average-sales-price of its handsets.

The rising demand for versatile OLED merchandise and elevated LCD panel costs additionally helped the South Korean tech large to take pleasure in sturdy earnings, they added.

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Analysts mentioned Samsung is predicted to proceed to publish sturdy earnings this 12 months.

“Samsung will proceed to generate quarterly working revenue hovering above 13 trillion gained over the second half,” Kwon Seong-ryul, a researcher at Dongbu Securities Co. mentioned in a report, predicting the expansion will probably be attributable to server DRAM, in addition to 3-D NAND merchandise.

“Though the chip enterprise is main the general efficiency, the show and smartphone sectors are additionally performing properly,” Kwon added.

As for the third quarter, Samsung is predicted to publish an working revenue of 13.9 trillion gained, together with gross sales of 60.3 trillion gained, in accordance with the info compiled by Yonhap Infomax on 23 South Korean securities companies.

Shares of Samsung Electronics closed 1.01 p.c greater at 2,403,000 gained Thursday. The second-quarter prediction was launched earlier than the principle bourse opened Friday.