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:
  • Most Popular
  • Most Shared

GOOGLE

Tech Showcase

Advanced Software

Advanced Software

Computer spying malware uncovered with 'stealth' features - Symantec.  Full Article 

Apple Settlement

Apple Settlement

Apple $450 mln e-book settlement gets final court approval.  Full Article 

Samsung Complain

Samsung Complain

Samsung files ITC complaint to block Nvidia chips from U.S. - Bloomberg.  Full Article 

Jeep SUVs

Jeep SUVs

Chrysler says it will speed up recall repairs for Jeep SUVs.  Full Article 

Internet Rules

Internet Rules

Any new U.S. Internet rules must withstand lawsuits - FCC chief.  Full Article 

Amazon's Plan

Amazon's Plan

Amazon plans ad-supported video streaming service - NY post.  Full Article 

Cellphone Upgrade

Cellphone Upgrade

Mobile phones to get handy upgrade.  Video 

Reuters India Mobile

Reuters India Mobile

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