Samsung Elec says Q2 profit likely rose 23% on solid chip demand

Samsung Electronics Co Ltd said on Tuesday second-quarter operating profit likely rose 23% as solid chip sales to data centres bulking up in a work-from-home economy during the pandemic offset weak demand for smartphones and TVs.

The South Korean tech giant said operating profit was likely 8.1 trillion won ($6.80 billion) in the quarter ended June, far above the 6.4 trillion won analyst forecast by Refinitiv SmartEstimate.

Revenue likely fell 7% to 52 trillion won from a year earlier, the company said.

The firm is expected to release detailed earnings later this month.

–Reuters