Samsung Electronics estimate Q2 operating profits to be up 11.4% y/y; LG Electronics project 15% y/y rise in sales
삼성전자 2분기 영업이익 14조원…LG 영업이익은 전년비 12% 감소
Samsung Electronics estimates its sales and operating profits for the second quarter to rise sharply on-year.
In terms of sales... it's estimated to be a Q2 record for the South Korean tech giant... thanks to - among other things - a solid performance by its semiconductor business.
Meanwhile, LG Electronics' sales surpassed the market consensus due to a rise in the auto parts business... but saw a drop in operating profit.
Lee Rae-hyun has more.
Despite ongoing geopolitical issues and global inflation, Samsung Electronics has logged its highest-ever projected sales for the second quarter.
In an earnings guidance report released on Thursday, the company says sales estimates from April to June amount to a record 58-point-9 billion U.S. dollars... up almost 21 percent from the same period last year.
The tech giant also expects an 11-point-3 percent on-year increase in operating profit, amounting to roughly 10-point-7 billion dollars.
This would mark the company's third-highest second-quarter profits ever.
Analysts say the earnings were largely driven by operating profits from Samsung's semiconductor business.And expect the company's profits for semiconductors to stand at around 7-point-6 billion dollars.
A high won-dollar exchange rate also appears to be contributing to earnings.
For example, in the first quarter, the won-dollar exchange rate rose almost 2 percent compared to the previous quarter... which brought profits of some 229 million dollars.
The exchange rate is expected to also result in 635 million dollars in operating profits in the second quarter.
One analyst says he has a positive outlook for Samsung's sales in the third quarter.
"Despite falling DRAM chip prices, Samsung's sales in the third quarter will increase as display sales recover and a new foldable phone is set to be released during the period. But operating profits are likely to remain due to a drop in chip prices."
LG Electronics also posted sales far better than the market consensus.
It projected a rise in quarterly sales of a little over 15 billion dollars... an increase of 15 percent compared to the same period a year earlier.
This is largely driven by a sales rise in LG's auto parts.
However, the estimated operating profit came to a record of about 610 million dollars... which is down over 12 percent on-year.
Industry insiders say this is caused by a drop in TV sales and the rising costs of logistics and raw materials.
Lee Rae-hyun, Arirang News.
#Samsung #Q2 #profits
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2022-07-07, 17:00 (KST)
