Samsung flags 23% jump in Q2 profit on solid chip demand, one-off gains

Samsung Electronics Co Ltd said on Tuesday second-quarter operating profit likely rose 23%, beating analysts' estimates on solid chip sales to data centres catering for a work-from-home economy during the coronavirus pandemic.

The sales offset weak demand for smartphones and TVs, while one-off gains from its display business, which counts Apple Inc. as a customer, also boosted profits, the company said. It gave no further details.

The world's top memory chip and smartphone maker said operating profit was likely 8.1 trillion won (5.44 billion pounds) in the quarter ended June, far above the 6.4 trillion won analyst forecast by Refinitiv SmartEstimate. It