Abdullah Abdullah has vowed to reject the preliminary result, alleging he was the victim of "industrial-scale" ballot-box stuffing, while his poll rival Ashraf Ghani has said he had won fairly by at least one million votes.
The result was due out at 2:00 pm (0930 GMT), but was delayed for several hours as the Independent Election Commission (IEC) officials and campaign teams held a series of hectic discussions behind closed doors.
"We agreed for an audit of 7,000 polling stations, but they had other conditions that we couldn't agree with, so for now there is only partial agreement," Ghani's spokesman Daud Sultanzoy told AFP.
Abdullah's spokesman Fazel Sancharaki said, "Our main demand was for the inspection of 11,000 polling stations under the close supervision of United Nations. 7,000 polling stations is not enough.
"The negotiation is still ongoing, if it produces a result, we will enter the process, otherwise even if they announce the results we will not recognise it."
Kabul-based diplomats scrambled for information as the scheduled time for the announcement passed and the IEC declined to release a reason for the delay.
Afghanistan's international backers have lobbied hard to try to ensure a smooth election process, but the contested outcome could realise their worst fears and raises the risk of civil unrest.
Following the preliminary result today, the official result is scheduled for July 24 after a period for adjudication of complaints.
The deadlock has brought Afghanistan's first democratic transfer of power to the brink of chaos as US-led troops end their 13-year war against the Taliban, and the country faces a new era with declining civilian aid.
The government yesterday rejected a proposal to ban Facebook during the impasse despite fears that social media postings have fanned ethnic hatred.
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