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Samsung says it will have a higher first quarter operating profit than earlier expected

Posted: , posted by Alan F.

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Samsung says it will have a higher first quarter operating profit than earlier expected
On Tuesday (because of the time difference, those in Korea are a day ahead of us), Samsung announced that it expects to report an operating profit of $5.43 billion USD for the first quarter. That is above the $4.88 billion USD in operating profits that analysts had earlier predicted Samsung would report for the first three months of the year. However, it is a 38% decline from the $7.82 billion USD in operating profits that Samsung reported for last year's first quarter.

For the first quarter of this year, Samsung expects to have $43.25 billion USD in revenue. That is lower than the $45.83 billion USD that was earlier predicted. During last year's first quarter, Samsung generated $49.42 billion USD in revenue. If this pans out, Samsung will end up reporting six consecutive quarters of lower revenue.

Samsung is expected to turn things around later this year with strong demand for the new Samsung Galaxy S6 and Samsung Galaxy S6 edge. Samsung designed its new flagship models from scratch and there is talk that U.S. pre-orders of the Galaxy S6 and S6 edge will end up doubling last year's total of pre-orders for the Samsung Galaxy S5

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source: CNBC

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