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Skip NavigationMarketsBusinessInvestingTechPoliticsVideoWatchlistInvesting ClubPROLivestreamMenuThe 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 Images

Samsung 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.

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