World’s largest memory chip maker Samsung Electronics said Wednesday that its operating profit is estimated to be around a record high of 5 trillion won (4.11 billion U.S. dollars). Samsung Electronics, South Korea’s biggest company by market capitalization, said in a regulatory filing that it estimates its second-quarter sales rose to KRW37 trillion in the three months ended June 30, up from KRW32.51 trillion a year earlier.
According to Samsung’s earnings guidance, its consolidated operating profit will likely stand in the range of 4.8 to 5.2 trillion won (3.9 to 4.3 billion U.S. dollars), while it predicted its consolidated sales to range in the 36 to 38 trillion won (29.4 to 31 billion U.S. dollar) band. Samsung’s second-quarter operating profit estimate came higher than expected. A Dow Jones Newswires poll of seven analysts had, on average, forecast an operating profit of KRW4.87 trillion, while they expected sales at KRW38.81 trillion. Samsung does not provide the net figure for the guidance.
The company’s earning forecast is nearly a two-fold increase from a profit of 2.67 trillion won (2.2 billion U.S. dollars) a year earlier, Samsung said. The electronics giant said the just-released forecasts may differ from actual earnings because it hasn’t completed an audit. The company is expected to announce the actual numbers later this month.