, Columnist
Samsung's Surprise Leaves More Confusion Over Tech
Good news that’s bad, optimistic signs that are negative. Welcome to the darkness in the Covid-19 second quarter.
How much of a coronavirus tech slump? It’s hard to tell.
Photographer: Jung Yeon-je/AFP/Getty
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Samsung Electronics Co.’s second-quarter earnings seem like good news. But it’s really not as simple as that.
Revenue beat estimates by around 3.6% while operating profit topped even the highest of sell-side analyst estimates by 6.3%, the South Korean giant reported Tuesday. Right off the bat, those numbers carry a caveat: The company posted a one-time gain related to its display business that would have helped the bottom line.