Samsung Electronics has posted a record operating profit for its second quarter, above analyst expectations.
For the three months ended June, its operating profit rose 79 percent from the same period last year to hit 6.7 trillion won (US$5.9 billion) according to its regulatory filing with the Korean stock exchange on Friday. This was above the market estimates of 6.58 trillion won (US$5.78 billion) compiled by newswire Bloomberg.
Over the same period, the company's revenue rose 19 percent rise to 47 trillion won (US$41.2 billion). It did not give an estimate for net profit.
"Earnings growth, , continued into the second quarter,” Brian Park, an analyst at Tong Yang Securities, said in a Bloomberg article. He added that "with today’s numbers, any concern about Samsung’s business, as well as overall demand for technology products, can be put to rest for now.”