April 24, 2024

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[THE INVESTOR] Samsung Electronics said on April 6 its first-quarter operating profit is presumed to have set another record by rising 57.58 percent from the previous year.

The operating profit was estimated at 15.6 trillion won (US$14.60 billion) for the January-March period, compared with 9.89 trillion won posted a year earlier, the Korean tech giant said in its earnings guidance report.

The profit figure hovered above the market estimates of 14.5 trillion won.
Sales rose 18.69 percent to 60 trillion won, compared with 50.5 trillion won in the same three months of 2017. 

Samsung did not offer performance and net profit estimate reports for each business division. The company will deliver its finalized earnings report later this month.

For the January-March period of 2018, analysts said Samsung probably posted better earnings from its chips and mobile divisions from a year earlier.

In the first quarter of 2017, the device solution division, which covers chips, posted an operating profit of 7.59 trillion won, followed by the IT and mobile arm with 2.07 trillion won. The consumer electronics division posted an operating profit of 380 billion won over the period.

Compared with the previous quarter, however, Samsung is presumed to have posted slightly lower earnings for the chip segment, apparently due to the weak sales of Apple’s iPhone X.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)