Samsung Q2 operating profit to rise thanks to strong memory chip salesJuly 5, 2022
Samsung is expected to announce its Q2 earnings guidance on Thursday, and market watchers estimate that the company’s operating profit for the second quarter rose more than 15% from a year ago. A new survey suggests that Samsung enjoyed a bump in sales and net income in the second quarter of 2022, though some of its divisions have underperformed.
Samsung’s Q2 performance was helped by its memory chip business and strong demand for chips used in data centers and servers. The chipset division is forecast to grow 42% and report 9.8 trillion won ($7.4 billion) in operating profit. (via Yonhap News)
In contrast with Samsung’s chip business, smartphone shipments were down 16% from Q1 2022, and market watchers estimate Samsung’s operating profit in the smartphone division to drop by 600 billion won ($457 million) from a year ago.
Samsung Display is expected to report an operating profit decline of 300 billion won ($228 million) from a year ago. The home appliance sector was also hit in Q2 by increased costs of raw materials and sluggish demand amid fears of inflation. Market watchers forecast operating profit to drop 50% compared to Q2 2021.
All things considered, Samsung, as a whole, is forecast to post 14.5 trillion won ($11 billion) in operating profit in Q2, representing a 15.6% increase from a year ago. Q2 sales could reach 76.8 trillion won ($58 billion), up 20.6%, while net income could increase by 19.8% YoY and top 11.5 trillion won ($8.5 billion).
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