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Investing.com -- Samsung (KS:005930) SDS reported second-quarter operating profit of 230 billion won, missing market expectations by 3%, primarily due to lower margins in its Logistics segment, while its IT Service segment performed in line with estimates.
The IT Service segment posted an operating profit of 204 billion won, representing a 3% year-over-year increase and meeting market expectations.
Cloud sales remained strong with 20% year-over-year growth, driven by CSP (Cloud Service Provider) business which grew 26% compared to the same period last year. The company’s MSP (Managed Service Provider) business also exceeded expectations with 20% year-over-year growth.
The weakness in the Logistics segment was attributed to a pull forward of volumes ahead of U.S. tariffs, which resulted in lower pricing during the quarter.
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