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July 28, 2021, 9:09 p.m. EDT

Samsung Electronics net profit surges 73% in second quarter

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By Kwanwoo Jun

Samsung Electronics Co.’s /zigman2/quotes/209800866/delayed KR:005930 -0.13% net profit jumped 73% from a year earlier in the second quarter thanks to strong demand and higher prices for memory chips, beating market expectations.

The world’s largest smartphone and memory-chip maker said Thursday that its strong semiconductor business offset weak performance in mobile-handset and other set-device segments in the quarter.

Net profit was 9.635 trillion won ($8.38 billion) for the quarter ended in June compared with KRW5.555 trillion a year earlier, the South Korean company said. The latest reading is above the FactSet-compiled consensus estimate of KRW8.598 trillion.

Revenue rose 20% on year to KRW63.672 trillion, while operating profit surged 54% to KRW12.567 trillion, the company said.

/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
77,300.00
-100.00 -0.13%
Volume: 12.25M
Sept. 24, 2021 3:30p
P/E Ratio
16.28
Dividend Yield
1.87%
Market Cap
₩520465.22 billion
Rev. per Employee
₩2.16B
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