Samsung Profit Exceeds Estimates on Smartphone, TV Demand
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Samsung Electronics Co., Asia’s largest consumer-electronics maker, posted first-quarter profit that beat analyst estimates as gains from selling phones and TVs helped mask a slump in earnings at the chip business.
Operating profit rose to a quarterly record 5.8 trillion won ($5.1 billion) in the three months ended March 31 from 2.95 trillion won a year earlier, the Suwon, South Korea-based company said in a statement today. That surpassed the 5 trillion won average of 32 analyst estimates compiled by Bloomberg.