Samsung said operating profit for the third quarter is expected at 7.7 trillion Korean won ($6.43 billion), slightly higher than an industry estimate.
Key Points
Like other chipmakers, the South Korean tech giant has struggled in an environment where the price and demand for memory chips have been low for almost a year due to inventory adjustments and a supply glut. Operating profit for the third quarter is expected at 7.7 trillion Korean won , down 56.17% from a year ago when the world's largest smartphone maker posted 17.57 trillion won in profit. Still, that third-quarter number, if realized, will be slightly higher than an average analyst forecast of 7.1 trillion won by Refinitiv Smartestimate.
Samsung's third-quarter guidance was "primarily driven by better-than-expected memory shipments," Rana told CNBC's "" on Tuesday. "Overall DRAM and NAND demand appear to be doing much better than what the market had expected" as well as what Samsung had guided on its second-quarter earnings call a few months ago.
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