Seoul, Korea –Samsung estimates that its second-quarter consolidated operating profit declined 4 percent from the year-ago to 6.9 trillion won ($6.13 billion), marking the seventh consecutive quarter of year-over-year declines,
The drop, however, was better than the first quarter’s 30 percent decline.
The company also forecast that its second-quarter revenue likely dropped 8.3 percent to 48 trillion won. The company didn’t break out results by segment.
The quarter includes the April launch of the company’s flagship Galaxy S6 and S6 edge smartphones. Samsung underestimated demand for the edge and overestimated demand for the S6, published reports say.
The quarter ends June 30, and the company plans to announce its full quarterly results in late July.
In the first quarter, the company’s net profit fell 39 percent to 4.63 trillion won on a revenue decline of 12.2 percent to 47.12 trillion won.