SEOUL (dpa-AFX) - Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its second-quarter operating profit will rise about 11.38 percent from last year, helped by strong semiconductor business despite slowing demand for smartphones and home appliances. It projects quarterly sales will increase 20.94 percent.
The South Korean tech giant projects operating profit of about 14.00 trillion Korean won in the second-quarter, compared to 12.57 trillion won reported last year. While it reported operating profit of about 14.12 trillion won in the first-quarter.
The company also expects second-quarter consolidated sales of about 77.00 trillion won compared to 63.67 trillion won last year. It reported consolidated sales of about 77.78 trillion won in the first-quarter.
Second-quarter earnings results will be released later this month.
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