Samsung Electronics on Tuesday estimated its operating profit at 6.9 trillion won during the second quarter, below analyst expectations, the company said on Tuesday.
Analysts had been expecting April-June operating profit to come in at 7.2 trillion won, the same as a year earlier and up from 6 trillion won in January-March, according to a Reuters poll.
The projected 4 percent annual fall in operating profit marks the seventh consecutive quarter of declines for the world's largest smartphone maker by shipments.
Revenue, meanwhile, is expected to total 48 trillion won in the second quarter, underperforming forecasts for 53.4 trillion won.
Samsung's shares opened down 0.8 following the guidance, compared with a 0.6 percent gain in the broader market, but pared losses shortly after. They were last seen up 1.3 percent at 1.24 million won.
Analysts attributed the lower-than-expected earnings guidance to continued weakness in the company's mobile business.