Samsung Electronics reports better than expected Q2 earnings

(ATTN: ADDS more details in last three paras)
SEOUL, July 24 (Yonhap) -- Samsung Electronics Co., the world's leading computer
memory chipmaker, reported better than expected second-quarter earnings on
Friday, buoyed by brisk sales of mobile handsets and LCD panels.

The company's net profit reached 2.25 trillion won (US$1.8 billion) in the
April-June period, up 5.2 percent from a profit of 2.14 trillion won a year
earlier, the company said in a regulatory filing.
The second-quarter earnings were higher than the market estimate of around 1.7
trillion won in profit.
Sales increased 15.9 percent to 21.02 trillion won over the cited period, while
operating profit dropped to 1.06 trillion won from 1.89 trillion won, it said.
Shares of Samsung Electronics were trading at 682,000 won on the Seoul bourse as
of 10:06 a.m., up 0.59 percent.
"The earnings were a bit higher than our estimate, but shares have risen sharply
recently on such expectations," said Roh Keun-chang, an analyst at HMC Investment
& Securities.
He said Samsung's earnings would continue to improve through the rest of the
year, adding that it is well positioned to benefit from a mild recovery in the
global memory chip sector due to its advanced technology.
sam@yna.co.kr
(END)