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Samsung Electro-Mechanics Q2 net profit up 51.8% to $131.5 mil.

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Samsung Electronics Chairman Lee Jae-yong visits the Samsung Electro-Mechanics plant in Tianjin, China, in this picture provided by Samsung Electronics, March 26, 2023. Yonhap

Samsung Electronics Chairman Lee Jae-yong visits the Samsung Electro-Mechanics plant in Tianjin, China, in this picture provided by Samsung Electronics, March 26, 2023. Yonhap

Samsung Electro-Mechanics on Wednesday reported its second-quarter net income of 181.4 billion won ($131.5 million), up 51.8 percent from a year earlier.

Operating income for the April-June period was 208.1 billion won, up 1.5 percent from a year ago, the company said in a regulatory filing. Revenue rose 16.2 percent to 2.58 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 157.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)