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Samsung Elec first quarter operating profit guidance beats estimates
April 6, 2015 / 11:40 PM / 3 years ago

Samsung Elec first quarter operating profit guidance beats estimates

A worker works on a Samsung outdoor advertisement installed atop an office building in central Seoul March 23, 2015. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korean tech giant Samsung Electronics Co Ltd said on Tuesday operating profit likely fell 30.5 percent in the January-March period to 5.9 trillion won ($5.44 billion), beating expectations.

The guidance, released ahead of full first-quarter figures due around end-April, compared with a 5.3 trillion won mean estimate of 41 analysts surveyed by Thomson Reuters I/B/E/S, and an 8.5 trillion won profit a year earlier. The estimated January-March operating profit would mark the highest in three quarters.

January-March revenue likely fell 12.4 percent to 47 trillion won, Samsung said, compared with a mean forecast of 49.8 trillion won by the Thomson Reuters I/B/E/S survey.

Reporting by Se Young Lee; Editing by Stephen Coates

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