Samsung's second-quarter profit guidance falls short of expectations

  • Samsung Electronics said it expects about 14.8 trillion Korean won ($13.2 billion) in operating profit for the April-June quarter.
  • If that number is realized during the company's earnings announcement in late July, it would be a 5.2 percent increase on-year.
  • Still, the world's largest smartphone maker missed estimates from analysts, who predicted profits to be 14.9 trillion won.

Samsung Electronics on Friday said its second-quarter operating profit likely rose 5.2 percent from a year earlier, missing analyst estimates.

Its sluggish mobile business pressured strong margins from its chip sales, analysts have said.

Samsung, in a regulatory filing, said April-June profit was likely 14.8 trillion won ($13.2 billion), below the 14.9 trillion won average of 18 analyst estimates in a Thomson Reuters poll.

Revenue likely fell 4.9 percent from a year earlier to 58 trillion won.

The firm did not elaborate on its performance and will disclose detailed earnings in late July.