SEOUL, April 7 (Korea Bizwire) – Samsung Electronics Co. predicted Friday that its first-quarter operating profit for this year advanced 48.2 percent on-year, apparently helped by the robust performance of its chip business.
Operating profit is estimated at 9.9 trillion won (US$8.76 billion) in the January-March period, compared with 6.68 trillion won posted a year earlier, the South Korean tech giant said in its regulatory filing.
It marks the second-highest quarterly operating profit ever posted by Samsung Electronics. The current record was set in the third quarter of 2013, when Samsung’s operating profit hit 10.1 trillion won.
Samsung’s sales over the cited period edged up 0.44 percent to 50 trillion won, the data also showed.
Samsung did not announce the performance of each business division. The company is set to release the finalized earnings report later this month.
The first-quarter operating profit was above the market’s earlier estimate of 9.43 trillion won, compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency, on 22 South Korean brokerage houses.
Shares of Samsung Electronics closed at 2,092,000 won on the main bourse Thursday, down 0.71 percent from the previous trading session.