Samsung Electronics Guidance Misses Forecast

Samsung Electronics Co. issued third-quarter guidance Tuesday that came in below analysts' average expectation, according to reports. The South Korean electronics conglomerate said July-September operations profit would likely total about 4.1 trillion won ($3.8 billion), marking an almost 60% drop from a year earlier and coming in below a Thomson Reuters estimate of 5.6 trillion won, Reuters reported. In the year-earlier period, the company earned 10.16 trillion won in operting profit, according to Dow Jones Newswires. Samsung put revenue for the period at around 47 trillion won, down from a little over 20% and missing a forecast of 50.9 trillion won in the Thomson Reuters survey.