SEOUL— Samsung Electronics Co. expects a 53% rise in working revenue for the second quarter, lifted by sturdy demand for reminiscence chips that offset weaker gadget gross sales damage by part shortages.
The world’s largest smartphone and memory-chip maker forecasts working revenue of 12.5 trillion South Korean received, equal to about $11 billion, for the quarter ended June 30. Samsung tasks income of 63 trillion received, up 19% from the prior 12 months.
The South Korean agency’s outlook handily topped market expectations and indicated ongoing power for tech giants—and particularly chip makers, which have seen better pricing energy throughout a historic provide crunch.
A 12 months in the past, through the pandemic’s first months, Samsung noticed a double-digit drop in income for electronics merchandise comparable to smartphones and tv units. However demand for parts surged as individuals shifted extra of their lives on-line. Outcomes have remained sturdy ever since.
Analysts estimates gathered by S&P International Market Intelligence have been about 10.9 trillion received in working revenue and 61.2 trillion received in income.