Korean tech firms to release Q2 earnings this week

[THE INVESTOR] Korean tech heavyweights, including Samsung Electronics, LG Electronics and Naver, will release their second-quarter earnings this week.

Ahead of its much-hyped Galaxy Note 7 launch on Aug. 2, Samsung is scheduled to release its April-June earnings on July 28. Its cross-town rival LG will release its earnings report on July 29. 

According to their earnings guidance announced earlier this month, Samsung is estimated to post 8.1 trillion won (US$7.12 billion) of operating profit in the second quarter, up 17.39 percent year-over-year.

LG is also expected to see a 139 percent jump in its operating profit with 584.6 billion won compared to a year ago.

After its Japanese subsidiary LINE made a successful stock debut both on the New York Stock Exchange and Tokyo Stock Exchange last week, the parent company Naver will release its second-quarter earnings on July 28. Its operating profit is forecast to stand at 263.9 billion won to 271.2 billion won, according to analyst estimates.

Korea’s second largest chipmaker SK hynix is slated to release its earnings on July 26. Its operating profit is estimated at 450.4 billion won, a 67.26 percent plunge from a year ago.

By Kim Young-won (wone0102@heraldcorp.com)