Samsung announces preliminary report, says it had operating profit of $5.15 billion in first quarter
Preliminary figures from Samsung show operating profits came in at a record 5.8 trillion won ($5.15 billion USD) versus analyst's expectations for 5 trillion won in operating profits. The preliminary figures showed revenue to be 45 trillion won ($39.8 billion USD). As good as those figures are, they fall short of the $5.28 billion Q1 profit projection made by analysts from Citibank and JP Morgan.
"The guidance is a surprise. Higher-than-expected shipments of the Galaxy Note seem to have given an upside to earnings. Sales of the Galaxy Note will increase further in the second quarter, and handset profit will grow despite a rise in marketing costs related to the London Olympics."-LEE KA-KEUN, ANALYST, HANA DAETOO SECURITIES
2. strikercho (Posts: 94; Member since: 20 Mar 2012)
Wow, that amount should be enough to cover the patent infringments against Apple and Co. :)