Samsung expects a jump in its operating profit in Q2

SEOUL, July 7 (Reuters) - Samsung Electronics on Tuesday forecast a nearly 19-fold jump in operating profit in the second quarter compared to the same period a year earlier, as artificial intelligence-driven demand continued to support memory chip prices.

In a regulatory filing, the world's largest memory chip maker estimated its operating profit for the April-June period at 89.4 trillion won ($58.44 billion), exceeding the London Exchange Group's SmartEstimate estimate of 87.3 trillion won. The company's operating profit for the same period last year was 4.7 trillion won.

The company said revenue is likely to rise 129 percent to 171 trillion won compared to the previous year.

Samsung is expected to announce its detailed results, including a breakdown of earnings for each of its business divisions, later this month.


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