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Samsung Electronics profit misses consensus by 22.0% in Q2

Samsung Electronics Co. Ltd. said its second-quarter normalized net income was 29,555.66 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 37,900.37 won per share.

EPS decreased 5.8% year over year from 31,365.33 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.401 trillion won, a decrease of 7.0% from 4.731 trillion won in the year-earlier period.

The normalized profit margin rose to 9.1% from 9.0% in the year-earlier period.

Total revenue fell 7.3% year over year to 48.538 trillion won from 52.353 trillion won, and total operating expenses declined 7.8% year over year to 41.640 trillion won from 45.166 trillion won.

Reported net income fell 8.9% on an annual basis to 5.627 trillion won, or 37,783.86 won per share, from 6.177 trillion won, or 40,951.36 won per share.

As of Sept. 1, US$1 was equivalent to 1,179.49 South Korean won.