July 30, 2020 / 12:01 AM / 5 days ago

Samsung Elec Q2 operating profit up 23% on strong chip sales

SEOUL, July 30 (Reuters) - Samsung Electronics Co Ltd reported a 23% bump to its quarterly operating profit on Thursday, fuelled by solid chip sales to data centres who bulked up to meet demand for a work-from-home economy amid the coronavirus pandemic.

Operating profit rose to 8.1 trillion won ($6.81 billion) for the April-June quarter from 6.6 trillion won a year earlier, the world’s top maker of memory chips and smartphones said. That was in line with the company’s estimate of 8.1 trillion won earlier this month.

Net profit rose 7% to 5.6 trillion won. Revenue dropped 6% to 53 trillion won. ($1 = 1,189.7900 won) (Reporting by Joyce Lee and Heekyong Yang; editing by Jane Wardell)

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