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Seoul, July 7 Samsung Electronics on Wednesday expected market estimate-beating second quarter earnings as its semiconductor business apparently offset a tepid performance from its mobile business.In its earnings guidance, the South Korean tech giant estimated its operating profit at 12.5 trillion won ($11 billion) for the April-June period, up 53.4 percent from a year ago.Its second-quarter operating income estimate beat the market consensus of 11.2 trillion won in a survey by Yonhap Infomax, the financial arm of Yonhap News Agency that surveyed 15 local brokerage houses last month.Samsung projected its second-quarter sales at 63 trillion won, up 19 percent from a year earlier. The figure is also above the market consensus of 61.3 trillion won.Should the preliminary earnings results stand, its sales will be the largest for any second quarter to date, while the operating profit will be the highest since the third quarter of 2018.On a quarterly basis, Samsung's second-quarter operating profit estimate was up 33.2 percent from the first quarter, although that of sales was down 3.6 percent from the previous quarter.Samsung, the world's leading memory chip and smartphone vendor, did not break down performances of its respective business divisions, saying it will announce the detailed earnings later this month.Analysts here believe Samsung's semiconductor business led the company's second-quarter performance.They earlier predicted Samsung's chip business would post more than 6.5 trillion won in operating profit for the second quarter, nearly double from the first quarter."With the expanded growth of memory chip prices, losses from its Austin fab should be reduced compared with the first quarter," said Lee Jae-yun, an analyst at Yuanta Securities.Samsung suffered a monthlong shutdown of its chip fabrication plant in Austin, Texas, after a severe snowstorm caused power and water outages in February. It went back to full operations in April, but the company reported more than 300 billion won in losses.Samsung's mobile business was predicted to report tepid earnings compared with the first quarter when it posted 4.4 trillion won in operating profit due to a resurgence of COVID-19 in major markets and chip shortages."The IM unit was negatively affected by the COVID-19 situation in India and Vietnam," said Doh Hyun-woo, an analyst at NH Investment & Securities. "We expect its second-quarter smartphone shipments at 60 million units, down 20 percent from a quarter earlier."Analysts believe Samsung's Consumer Electronics (CE) division, which manages TVs and home appliances, posted similar or slightly lower earnings compared with the first quarter with around 1 trillion won in operating profit.Analysts said Samsung's third-quarter earnings will be better than the second quarter on the back of rising chip prices and recovery of its smartphone business.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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