(MENAFN- Saudi Press Agency)
SEOUL, South Korea, Shawwal 23, 1437, July 28, 2016, SPA -- Samsung Electronics says its second-quarter earnings rose 2 percent over a year earlier, according to AP.
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.
--SPA
03:19 LOCAL TIME 00:19 GMT
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