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Samsung Expects Second-Quarter Profit to Climb 11%

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

Samsung S22 and S22 Plus and S22 Ultra compared
Samsung credited strong sales of the Galaxy S22 Ultra with helping boost revenue in its mobile division during its first quarter.
Lisa Eadicicco/CNET

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.