Samsung Profit Tops Estimates on S7, Lower Marketing Costs
- Semiconductor, display sales also contributed in quarter
- Second half will see increase in marketing expenses, capex
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Samsung Electronics Co. reported second-quarter profit that beat analysts’ estimates, fueled by stronger sales of Galaxy S7 smartphones and aggressive cost cuts.
Net income, excluding minority interests, was 5.83 trillion won ($5.1 billion) in the period, the Suwon, South Korea-based company said in a filing Thursday. That compares with the 5.64 trillion-won average of estimates compiled by Bloomberg. The company also announced a 1.79 trillion won share buyback, the final stage of a plan announced last year.