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Samsung Electronics Q1 net profit down 3.1 pct. to 4.88 tln won

All News 08:45 April 29, 2020

SEOUL, April 29 (Yonhap) -- Samsung Electronics Co. on Wednesday reported its first-quarter net income of 4.88 trillion won (US$ 4 billion), down 3.1 percent from a year earlier.

The company said in a regulatory filing that it posted 6.44 trillion won in operating profit for the quarter, compared with 6.23 trillion won a year ago. Sales rose 5.6 percent to 55.32 trillion won.

The operating profit was 7.6 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).

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