Samsung Elec second-quarter profit up 5.7 percent on-year, buoyed by chips

Samsung Elec second-quarter profit up 5.7 percent on-year, buoyed by chips

SEOUL (Reuters) - Samsung Electronics Co Ltd <005930.KS> posted a 5.7 percent rise in second-quarter profit on Tuesday as strong sales of semiconductors helped the South Korean tech giant defy sluggish growth in the smartphone market.

Operating profit for the world's biggest maker of memory chips and smartphones was 14.9 trillion won ($13.4 billion) in the April-June quarter, it said in a regulatory filing, compared with 14.8 trillion won it had estimated.

Revenue fell 4 percent to 58 trillion won in line with its earlier estimate.

($1 = 1,116.5000 won)

(Reporting by Ju-min Park; Editing by Stephen Coates)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Jul 31, 2018 07:05 AM

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