Samsung Electronics says Q2 operating profit likely fell 24.5 pct

SEOUL Tue Jul 8, 2014 5:14am IST

A man walks out of Samsung Electronics' headquarters in Seoul January 6, 2014.   REUTERS/Kim Hong-Ji/Files

A man walks out of Samsung Electronics' headquarters in Seoul January 6, 2014.

Credit: Reuters/Kim Hong-Ji/Files

Related Topics

Stocks

   

SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) on Tuesday said operating profit likely fell 24.5 percent in April-June to 7.2 trillion won ($7.12 billion) due to continued slowing growth in the company's cash cow smartphone business.

The guidance, released ahead of final second-quarter figures due around the end of July, was much lower than an 8.3 trillion won mean estimate of 38 analysts polled by Thomson Reuters I/B/E/S.

The result would be the South Korean company's third consecutive quarter of declining operating profit.

Samsung also said second-quarter sales likely fell 9.5 percent to 52 trillion won.

That would compare with analysts' estimate of 54 trillion won and would be the first annual decline since Samsung adopted new accounting standards in 2009.

($1 = 1011.0000 South Korean Won)

(Reporting by Se Young Lee; Editing by Ryan Woo)

FILED UNDER:

REUTERS SHOWCASE

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Economic Pulse

Economic Pulse

Crank up public spending to revive growth - chief economic adviser.  Full Article 

Sony Cyberattack

Sony Cyberattack

Obama vows U.S. response to North Korea over Sony cyberattack.  Full Article 

Cook Out

Cook Out

Cook out, Morgan in as England ODI captain - reports.  Full Article 

PM's Moves

PM's Moves

Modi moves in to speed up $300 billion stuck projects.  Full Article 

Obama's Message

Obama's Message

Obama's year-end message to Americans: I'm not a lame duck.  Full Article 

India This Week

India This Week

Some of our best photos from this week.   Pictures 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device   Full Coverage