Samsung Electronics posts double-digit growth in Q1 operating profit
Xinhua, April 7, 2017 Adjust font size:
Samsung Electronics posted a double-digit growth in the first quarter operating profit, a regulatory filing showed Friday.
Operating profit was 9.9 trillion won (8.7 billion U.S. dollars) in the January-March quarter, up 48.2 percent from a year earlier. From the previous three-month period, the profit increased 7.38 percent.
The figure was almost near to the company's biggest-ever operating profit of 10.16 trillion won tallied in the third quarter of 2013. It beat market expectations of about 9.4 trillion won.
The first-quarter revenue was 50 trillion won, up 0.44 percent from a year earlier. Compared with the prior quarter, the revenue was down 6.24 percent.
Indicating Samsung's improved profitability, the ratio of operating profit to revenue came in at 19.8 percent in the quarter, up 6.5 percentage points from a year earlier.
Net income and detailed profits in each business units would be unveiled later this month. Enditem