Seoul: Samsung Electronics Co. announced on Thursday that its net profit for the second quarter was 5.11 trillion won (US$3.7 billion), marking a 48 percent decrease from the same period the previous year. The figures were disclosed in a regulatory filing by the company.
According to Yonhap News Agency, the operating profit for the April-June timeframe experienced a significant decrease of 55.2 percent year-on-year, totaling 4.67 trillion won. Despite the decline in profit, the company's revenue saw a slight increase of 0.7 percent, reaching 74.56 trillion won.
The reported earnings were below market expectations. Analysts, as surveyed by Yonhap Infomax, anticipated a higher net profit, with an average estimate of 7.29 trillion won.