Samsung estimates second-quarter profit at record high, misses forecast

SEOUL Thu Jul 4, 2013 7:46pm EDT

1 of 2. A man uses his mobile phone in front of a Samsung mobile shop in Seoul July 4, 2013. Samsung Electronics Co Ltd estimated its April-June operating profit rose 47 percent to a record 9.5 trillion won ($8.3 billion), lifted by the late April launch of its flagship Galaxy S4 smartphones. Picture taken on July 4, 2013.

Credit: Reuters/Kim Hong-Ji

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SEOUL (Reuters) - Samsung Electronics Co Ltd estimated its April-June operating profit rose 47 percent to a record 9.5 trillion won ($8.3 billion), lifted by the late April launch of its flagship Galaxy S4 smartphones.

The guidance - released ahead of full quarterly results due by July 26 - was worse than an average forecast of 10.16 trillion won by 43 analysts polled by Thomson Reuters I/B/E/S.

Samsung estimated its second-quarter sales at 57 trillion won, versus a market forecast for 58.7 trillion won.

(Reporting by Miyoung Kim; Editing by Stephen Coates)

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