November 21, 2024

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[THE INVESTOR] Samsung Electronics said on April 26 its first-quarter net profit advanced 52.11 percent from a year earlier, following improved returns from its crucial chip operations as well as smartphone sales.

Net profit reached 11.6 trillion won (US$10.7 billion) for the January-March period, compared with 7.6 trillion won posted a year earlier.

Operating profit reached a record-high of 15.6 trillion won, up 58.03 percent from the first three months of last year, the company said. It also moved up 3.27 percent from the previous record of 15.1 trillion won posted a quarter earlier.

Sales jumped 19.82 percent to 60.5 trillion won, compared with 50.5 trillion won in the same three-month period in 2017.

First-quarter operating profit came in line with the estimate of 15.6 trillion won forecast through a preliminary guidance report released earlier this month.

The crucial chip business saw its operating profit reach 11.55 trillion won, rising sharply from 6.31 trillion won posted a year earlier.

With sales of the chip segment reaching 20.78 trillion won, Samsung posted a record-high operating profit-to-sales ratio of 55.6 percent for the sector, indicating improvements in the sector‘s profitability. 

By Lee Ji-yoon and newswires (jylee@heraldcorp.com)