Samsung Profit, Sales Top Estimates on Chips, S8 Smartphone
- Earnings boost optimism over company amid heir’s trial
- Results reflect Samsung’s strength in semiconductors, displays
Chips Help Samsung 2Q Profit to $9.6 Billion
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Samsung Electronics Co.’s quarterly profit and revenue topped analysts’ estimates, fueled by the success of its new Galaxy S8 smartphones and demand for semiconductors.
Net income rose to a record 10.8 trillion won ($9.6 billion) in the three months ended June, the Suwon, South Korea-based company said in a filing Thursday, exceeding the 9.75 trillion won average of projections compiled by Bloomberg. Sales rose 20 percent to 61 trillion won.