What They Say
Samsung announced its earning guidance for Q2 2022 and said it expected sales of $59 billion and profits of $10.8 billion. Sales will be up 22% year on year and profit up 12% on Q2 last year.
What We Think
The Korea Herald reports that although the guidance was positive, based on good results in chips, the outlook for the second half of the year is looking less positive. Korean analysts revised their annual outlooks for revenues and profits, slightly, but it should be another record year for revenues although profits may not reach 2019 levels. (BR)
