Samsung Electronics Forecast Strongest Earnings In Four Years

Samsung Electronics Forecast Strongest Earnings In Four Years

Summary:

  • Strong earnings forecast from Samsung.
  • Support offered to chip and smartphone makers.

Samsung Electronics forecasted strong earnings

Samsung’s shares rose higher in South Korea trading on Thursday in the wake of Apple Inc’s key rival competitor in smartphones and the world's largest Chip maker forecasted its strongest earnings in 4 years. Samsung said its revenues likely rose 21% and profits 11% up.

Chip sales are the likely drivers of bulk of Samsung’s profits. The preliminary report is customarily released early in July followed by a more detailed update expected later on in July.

The stronger-than-expected profits will likely offer support in increasing investor confidence for both the Chip and smartphones sectors, both of which have suffered from demand erosion and supply-chain issues.

Samsung Electronics Forecast Strongest Earnings In Four Years - 1 Samsung Price Chart

Sources: finance.yahoo.com, thestreet.com

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.