Samsung forecast beats market expectations for first quarter

Samsung Electronics connected Tuesday posted highest ever figures for its archetypal 4th income forecast. Photo: ANTHONY WALLACE / AFP
Source: AFP

Samsung Electronics connected Tuesday posted highest ever figures for its archetypal 4th income forecast and said it predicted a better-than-expected show for its profits, beating marketplace expectations.

The steadfast is the flagship subsidiary of South Korean elephantine Samsung Group, by acold the largest of the family-controlled conglomerates that predominate concern successful Asia's fourth-largest economy.

The tech elephantine said successful a regulatory filing that its January to March operating profits were expected to emergence to 6.6 trillion won ($4.5 billion), down 0.15 percent from a twelvemonth earlier but up astir 2 percent compared to the erstwhile quarter.

This was astir 34 percent higher than the mean estimate, according to South Korea's Yonhap quality agency, which cited its ain fiscal information firm.

Sales were besides seen arsenic expanding to 79 trillion won, a adjacent 10 percent leap from a twelvemonth earlier, marking the highest archetypal 4th fig connected grounds and the second-highest quarterly gross ever.

The institution did not disclose its nett income oregon the elaborate net of its concern divisions.

Analysts recognition the precocious figures to grounds income of the caller Galaxy S25 bid phone, which was released successful February.

The bid became the fastest ever Galaxy instrumentality to scope 1 cardinal units sold successful the shortest clip -- wrong 21 days.

Shares successful Samsung roseate much than 2 percent successful Seoul connected Tuesday.

The announcement comes a time aft the banal marketplace collapsed connected a achromatic Monday successful Asia and Europe aft China retaliated against steep US tariffs.

Experts pass the tariffs could besides interaction Samsung, arsenic much than fractional of its smartphones are manufactured successful Vietnam, which present faces a 46 percent work from the US.

"Samsung's consensus-beating archetypal 4th operating nett implies its fashionable merchandise offerings, specified arsenic Galaxy smartphones, could upwind a pugnacious concern environment, erstwhile combined with beardown outgo power capabilities," Bloomberg Intelligence analysts said.

"Yet the gait of nett maturation mightiness dilatory successful 2Q fixed astir of its smartphones are made successful Vietnam, which subjects them to US import tariffs. A betterment successful representation spot prices is simply a agleam spot."

When asked by AFP, Samsung said it had nary remark connected the matter.

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Source: AFP