Samsung reports 2 percent gain in 2Q net profit

SEOUL, South Korea (AP) — Samsung Electronics says its second-quarter earnings rose 2 percent over a year earlier. The South Korean company said on Thursday its April-June net income came in at 5.85 trillion won ($5.17 billion), compared with 5.75 trillion won a year earlier. That was slightly...

SEOUL, South Korea (AP) — Samsung Electronics says its second-quarter earnings rose 2 percent over a year earlier.

The South Korean company said on Thursday its April-June net income came in at 5.85 trillion won ($5.17 billion), compared with 5.75 trillion won a year earlier.

That was slightly higher than expectations. Analysts had forecast net income of 5.79 trillion won, according to FactSet, a financial data provider.

Sales rose 5 percent to 50.94 trillion won ($45 billion), while operating profit surged 18 percent to 8.14 trillion won ($7.19 billion), in line with the company's guidance earlier this month.

Samsung, the world's largest smartphone maker, beat forecasts even as growth in the overall smartphone industry slows. Apple reported earlier this week a 27 percent drop in profit as iPhone sales declined.

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