Analysts had forecast net income of 5.79 trillion won, according to FactSet, a financial data provider. Samsung, the world’s largest smartphone maker, said its April-to-June net income rose 2 per cent over a year earlier to 5.85 trillion won ($6.84 billion), compared with 5.75 trillion won a year earlier. Sales rose 5 per cent to 50.94 trillion won ($59.6 billion), while operating profit surged 18 per cent to 8.14 trillion won ($9.52 billion), in line with the company’s guidance earlier this month. That was slightly higher than forecasts, which have been revised upward in recent months to reflect stronger-than-expected sales of the new phones. SEOUL, KOREA, REPUBLIC OF—Samsung Electronics Co. reported forecast-beating earnings results Thursday that were its best in two years as consumers snapped up its Galaxy smartphones, in a sign the company is getting its mojo back while rivals fail to deliver new devices.

Source: thestar July 28, 2016 16:07 UTC