Seoul: Samsung Securities Co. on Tuesday reported a second-quarter net profit of 488.2 billion won (US$340.7 million), marking an increase of 108.1 percent from the previous year.
According to Yonhap News Agency, the operating profit for the April-June period was 675.8 billion won, representing a rise of 119 percent compared to the same period last year, the financial services firm under Samsung Group stated in a regulatory filing. Revenue also increased by 111.6 percent, reaching 9.66 trillion won.
The earnings for one of South Korea's largest securities firms surpassed market expectations. The average estimate of net profit by analysts was 356.3 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.