Samsung Electronics announced a preliminary operating profit of 89.4 trillion won ($58.4 billion) for the second quarter, a substantial increase from 57.2 trillion won in the prior quarter and a notable rise from just 4.7 trillion won a year earlier. Revenue for the April-to-June period reached 171 trillion won, up from 133.9 trillion won in the previous quarter.
However, shares of Samsung fell nearly 5% at the market open following the announcement. Analysts noted that the results included one-off expenses related to employee bonuses, which were part of a recent agreement with labor unions.
Earlier this year, Samsung agreed to remove its 1,000% base salary bonus cap and allocate 10.5% of its operating profit for bonuses, responding to labor protests demanding a fairer distribution of the company's earnings. This decision may have contributed to the market's reaction, as investors weigh the impact of increased labor costs against the backdrop of strong financial performance