Samsung Expects Second-Quarter Profit to Climb 11%

The electronics giant has had a string of strong quarters in the past year.

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Steven Musil is the night news editor at CNET News. He's been hooked on tech since learning BASIC in the late '70s. When not cleaning up after his daughter and son, Steven can be found pedaling around the San Francisco Bay Area. Before joining CNET in 2000, Steven spent 10 years at various Bay Area newspapers.
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Samsung expects another bump in its operating profit in the second quarter, the latest in a string of strong financial performances from the electronics giant.

The Korea-based company on Wednesday predicted its operating profit for the three-month period ended June 30 would come in around 14 trillion won ($10.7 billion), an increase of about 11% compared with the same time period last year. It also said it expects its revenue to increase by nearly 21%, to 77 trillion won ($58.9 billion).

Samsung's estimates are on par with its first-quarter results, when it posted its third straight quarter of record revenue on strong sales of memory chips and its latest flagship phones.

The earnings guidance, released ahead of full earnings later this month, didn't provide specific divisional results.