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Samsung Sees 2.7% Rise In Q1 Operating Profit

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Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its first-quarter operating profit will rise about 2.73 percent from last year, sales will also increase 4.98 percent.

The South Korean tech giant projects operating profit of about 6.40 trillion Korean won in the first-quarter, compared to 6.23 trillion won reported last year. While it reported operating profit of about 7.16 trillion won in the fourth-quarter.

The company also expects first-quarter consolidated sales of about 55.00 trillion won compared to 52.39 trillion won last year. It reported consolidated sales of about 59.88 trillion won in the fourth-quarter.

First-quarter earnings results will be released later this month.

Samsung had to temporarily shut down about one-fourth of its global manufacturing bases, amid the spread of COVID-19.

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