The Samsung exhibition stand features the prominent ''A new era of mobile agentic AI'' slogan by the South Korean company Samsung Electronics.Joan Cros | Nurphoto | Getty ImagesSamsung Electronics on Tuesday reported preliminary second-quarter operating profit of 89.4 trillion won ($58.4 billion), versus 57.2 trillion won in the prior period.Operating profit from the same period a year earlier was 4.7 trillion won.Samsung shares traded nearly 5% lower at Tuesday's open.The tech giant reported revenue for the April-to-June period of 171 trillion won, up from 133.9 trillion won in the previous quarter.The results include deducted one-off expenses for employee bonus provisions following recent labor negotiations, according to analysts. Earlier this year, Samsung agreed to scrap its 1,000% base salary bonus cap and earmark 10.5% of its operating profit for bonuses, capitulating to a weeks-long labor union protest that demanded a fair share of the company's earnings.
Samsung Electronics sees record preliminary 2Q profit but shares fall
The Samsung exhibition stand features the prominent ''A new era of mobile agentic AI'' slogan by the South Korean company Samsung Electronics.Joan Cros | Nurphoto | Getty ImagesSamsung Electronics on Tuesday reported preliminary second-quarter operating profit of 89.4 trillion won ($58.4 billion), versus 57.2 trillion won in the prior period.Operating profit from the same period a year earlier was 4.7 trillion won.Samsung shares traded nearly 5% lower at Tuesday's open.The tech giant reported revenue for the April-to-June period of 171 trillion won, up from 133.9 trillion won in the previous quarter.The results include deducted one-off expenses for employee bonus provisions following recent labor negotiations, according to analysts. Earlier this year, Samsung agreed to scrap its 1,000% base salary bonus cap and earmark 10.5% of its operating profit for bonuses, capitulating to a weeks-long labor union protest that demanded a fair share of the company's earnings.
