SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
The global leader in semiconductors is benefiting from higher demand for chips from laptop makers and data centres amid the coronavirus-driven shift to working from home, even as its mobile and consumer electronics businesses suffer.
Samsung said operating profit was expected to be 6.4 trillion won ($5.2 billion) in the quarter ended March, compared with 6.2 trillion won a year ago and the 6.2 trillion won estimate from analysts according to Refinitiv SmartEstimate.
Revenue likely rose 5% to 55 trillion won from a year ago, in line with the 55.6 trillion won estimate.
Samsung Electronics shares were 2.3% higher while the broader market .KS11 was up 1.9%.
The maker of smartphones, TVs, appliances, memory chips…
Source Reuters Tech News
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