Samsung's operating profit up 53 percent in 1Q - 13 WTHR Indianapolis

Samsung's operating profit up 53 percent in 1Q

Posted: Updated:
SEOUL, SOUTH KOREA -

Samsung Electronics says its January-March operating profit rose 53 percent over a year earlier.

The South Korean firm estimates its first quarter operating income at 8.7 trillion won ($7.7 billion). The preliminary result is a 2 percent decline from the previous quarter when the operating income stood at a record high.

Samsung says its first quarter revenue grew 15 percent from a year earlier to 52 trillion won.

Analysts say smartphone sales and shortages in memory chips for personal computers helped Samsung. Its first-quarter profit was higher than market expectations during a typically slow quarter in the consumer electronics markets.

Samsung's full results including net profit and breakdown figures for each division will be released later this month.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

Powered by WorldNow