SEOUL (dpa-AFX) - South Korean tech major Samsung Electronics Co. Ltd. (SSNLF, 005930.KS) Tuesday said it anticipates a surge in second-quarter operating income with strong growth in sales. Meanwhile, the shares were down around 9 percent in Korean trading.
For the second quarter, the company projects consolidated operating profit of approximately 89.40 trillion Korean won, significantly higher than prior year's 4.68 trillion won.
Consolidated sales would be around 171 trillion won, up 129.31 percent from last year's 74.57 trillion won.
The outlook represents the median of the estimate ranges for operating profit of 89.3 trillion won to 89.5 trillion won, and sales of 170 trillion won to 172 trillion won
Sequentially, operating income would rise 56.21 percent, and sales would grow 27.74 percent.
For the first half, operating income is projected to be around 146.63 trillion won, up 1,191 percent from last yer, and sales would grow 98.34 percent year-over-year to 304.87 trillion won.
In South Korea, the shares were trading at 289,500.00 won, down 8.96 percent.
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