Samsung expects record operating profits in 2Q13, but misses market expectations
Jessie Shen, DIGITIMES, Taipei [Friday 5 July 2013]
Samsung Electronics expects to report record operating profits for the second quarter of 2013, but its guidance figures are well below market expectations.
Samsung forecast that operating profits for second-quarter 2013 will arrive at between KRW9.3 trillion (US$8.13 billion) and KRW9.7 trillion, which would surpass the company's current record of KRW8.84 trillion reached in fourth-quarter 2012.
However, the guidance range of KRW9.3 trillion-KRW9.7 trillion came in below market watcher estimates of over KRW10 billion.
Consolidated revenues for second-quarter 2013 are forecast to reach about KRW57 trillion, compared to the KRW52.87 trillion reported for the prior quarter, and KRW47.6 trillion a year ago, Samsung disclosed. The company is scheduled to release actual results for the second quarter at the end of July.
The guidance was given following media reports describing Galaxy S4 sales as "disappointing."
Samsung's IT & mobile communications (IM) division, which its mobile communications business belongs to, generated operating profits of KRW6.51 trillion in the first quarter of 2013, while the company's overall operating profits came to KRW8.78 trillion.
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