The Samsung Q2 earnings have been announced and Samsung has beaten its forecast with an operating profit of 14.9 trillion won, which is about $13.3 billion for their second quarter.
The company said that overall revenue fell for the second quarter due to ‘softer sales’ of smartphones and also display panels.
Second quarter revenue fell due to softer sales of smartphones and display panels, despite robust demand for memory chips. The continued strength of the Company’s memory business contributed to the higher operating profit. Net profit was little changed from a year earlier due to higher income tax.
Both revenue and operating profit decreased from the previous quarter. The Korean won weakened against the US dollar but rose against the euro and several other key currencies, resulting in a negative impact of net KRW 400 billion on the quarterly operating profit compared with the previous quarter.
You can see full details on the Samsung Q2 earnings over at the company’s website at the link below. Samsung is launching their new Galaxy Note 9 smartphone next month which is expected to increase their smartphone sales.
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