Samsung shares tumbled almost 4% on Friday as the company pre-announced record second-quarter earnings that still missed analysts’ sky-high consensus. The South Korean consumer electronics giant estimates that Q2 2013 profit came in at a record-high $8.3 billion on $50 billion in revenue, but analysts were looking for a quarterly profit of more than $8.9 billion. Despite the fact that Galaxy S4 shipments remained strong last month — Samsung reportedly topped 20 million units shipped cumulatively earlier this week — analysts are still worried that Samsung cannot maintain the rapid growth it has enjoyed in its smartphone division. Samsung’s Q2 earnings estimate of $8.3 billion represents a 47% increase over the same quarter in 2012 and an 8% improvement over the first quarter this year. The company’s press release follows below.
Samsung Electronics Announces Earnings Guidance for Second Quarter 2013
(Seoul – Korea Newswire ) July 5, 2013 – Samsung Electronics Co.., Ltd.. The TODAY announced its Second Quarter Earnings guidance for 2013 of. Consolidated sales: English by approximately 57 trillion won (Range: 56 – 58 trillion won English) Consolidated Operating Profit: English by approximately 9.5 trillion won (Range: 9.3 – 9.7 trillion won English) The Figures above are estimates based on K-IFRS Consolidated Earnings Disclosure regulations in South Korea do Not allow Earnings to be Provided guidance as a range, therefore disclosure was made based on The Official The Median value as stated above. Provided Ahead of The The guidance is full announcement of quarterly earnings results for the convenience of investors and media, before our external audit on the financial results of our headquarters, subsidiaries and affiliates is completed. Therefore, The above estimate The May differ from actual results. The full Earnings for Second Quarter Will be The disclosed Following The Board of Directors’ approval of The Financial statements and quarterly reports.