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Samsung Electronics says second quarter operating profit likely fell 24.5 percent

08
Jul
2014

SEOUL (Reuters) – Samsung Electronics Co Ltd 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 companys 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 companys third consecutive quarter of declining operating profit. Samsung also said second-quarter sales likely fell 9. …

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