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