Samsung likely to announce a 38 percent profit surge

Stefan Mileschin · 7th July 2021, 06:42

Pandemic-led

While the world apparently suffered during the Coronavirus, big tech generally seems to have done very well out of it. Samsung is expected to see a 38 percent surge in profit for the April-June quarter thanks to strong chip prices and demand spurred by a pandemic-led consumer appetite for electronics as well as recovering investment in data centres.

Operating profit for the world's biggest memory chip and smartphone maker likely jumped to $10 billion, according to a Refinitiv SmartEstimate drawn from 20 analysts and weighted toward those who are more consistently accurate.

Samsung’s strong performance - coming despite it shipping fewer smartphones than in January-March - underscores the stratospheric demand for chips that has depleted stockpiles and filled production capacity.

The result would be up 20 percent from the first quarter and mark Samsung's highest operating income for the second quarter since 2018. Revenue likely rose 15.4 percent.

Samsung is scheduled to announce preliminary second-quarter results tomorrow.

https://fudzilla.com/news/53168-samsung-profit

7th July 2021, 06:42	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,812	Samsung likely to announce a 38 percent profit surge Pandemic-led While the world apparently suffered during the Coronavirus, big tech generally seems to have done very well out of it. Samsung is expected to see a 38 percent surge in profit for the April-June quarter thanks to strong chip prices and demand spurred by a pandemic-led consumer appetite for electronics as well as recovering investment in data centres. Operating profit for the world's biggest memory chip and smartphone maker likely jumped to $10 billion, according to a Refinitiv SmartEstimate drawn from 20 analysts and weighted toward those who are more consistently accurate. Samsung’s strong performance - coming despite it shipping fewer smartphones than in January-March - underscores the stratospheric demand for chips that has depleted stockpiles and filled production capacity. The result would be up 20 percent from the first quarter and mark Samsung's highest operating income for the second quarter since 2018. Revenue likely rose 15.4 percent. Samsung is scheduled to announce preliminary second-quarter results tomorrow. https://fudzilla.com/news/53168-samsung-profit

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