Samsung Electronics tops Q2 estimates despite 56% drop in operating profits

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Just yesterday we told you that most analysts were expecting Samsung Electronics to report a 60% drop in operating profits for the second quarter that ended in June. The U.S. supply chain ban against Huawei was expected to lead to a drop in the number of chips shipped by Samsung during the three month period. The chip business accounts for two-thirds of Samsung Electronic’s sales, so the fact that the Galaxy S10 smartphone line had outsold last year’s Galaxy S9 by 12% year-over-year wasn’t expected to help boost the numbers.
With the time difference, it is now Friday …

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