toggle

AAPL Stock: 123.54 ( + 0.77 )

Printed from http://www.macnn.com

Samsung anticipates $8.3B profit on $49B revenue, disappoints analysts

updated 06:12 am EDT, Fri July 5, 2013

Samsung to miss predicted 10 trillion won profit target by analysts

Samsung will be reporting another record-breaking quarter when it releases its financial results for Q2 2013 later this month, according to a newly-released earnings guidance statement. Despite the good news, the achieved profit is said to be far lower than financial analysts predicted, with a general belief that it has undersold the Galaxy S4 and other smartphones.

From April until June, the company believes it has earned approximately 9.5 trillion won ($8.3 billion) in profit, a 47-percent year-on-year rise and a 54-percent growth compared to the last quarter. Revenues of 57 trillion won ($49 billion) are also up year-on-year by 20 percent. Though Samsung is confident in its released figures, they are still estimates and can still change before the full financial report is released.

Analysts believed that Samsung was capable of reaching 10 trillion won ($8.75 billion) in the period, based on an average of 34 analyst estimates compiled by Bloomberg. Shipment estimates by analysts dropped from around 75 million to 65 million units, with a fund manager for KTV Asset Management suggested that the lower-than-expected profit "proved that the recent concern over the high-end smartphone market saturation and margin squeeze was for real."




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

Entry-level 27-inch Retina iMac

The 27-inch Apple iMac with 5K Retina display is already one of the best value-for-money Macs that Apple has ever released. It was som ...

toggle

Most Commented