Samsung said Friday it expects operating profit for the April to June quarter to be approximately 10.4 trillion won — a jump of about 1,452%.
The stock climbed as much as 2.24% on Friday morning, trading at a high of 86,500 Korean won , according to LSEG data. Samsung shares closed at 84,600 on Thursday.
"Samsung announces earnings surprise but mainly the earnings upside is from memory price high," said SK Kim of Daiwa Capital Markets. Samsung issued guidance on Friday, saying operating profit for the April to June quarter is projected to be about 10.4 trillion won — that's a jump of about 1,452%The firm also said it expects revenue for the second quarter to be between 73 trillion to 75 trillion won,last year. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand for memory chips and electronics.
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