“Samsung says profit jumped 23%, likely thanks to strong chip demand”
July 7, 2020
“The South Korean conglomerate said on Tuesday that it expects to make an operating profit of roughly 8.1 trillion won ($6.8 billion) for the three months that ended in June. That’s up nearly 23% from the same period a year ago. The estimates also beat roughly 2% profit slump that analysts polled by data provider Refinitiv had predicted.
Samsung said it expects sales will fall about 7% to 52 trillion won ($43.6 billion). Analysts polled by Refinitiv had predicted 51.4 trillion in sales ($43 billion). Shares in Samsung opened up 1.5% in Seoul, but later reversed those gains. The stock ended the day down 2.9%. South Korea’s Kospi Index (KOSPI) closed down 1%…”
https://www.cnn.com/2020/07/06/tech/samsung-earnings-guidance-hnk-intl/index.html