Samsung Electronics said Friday its first-quarter profit jumped 48 percent, a better-than-expected result that analysts believed to be driven by strong smartphone components. Its January-March operating income will be 9.9 trillion won ($8.8 billion), compared with 6.7 trillion won a year earlier, the South Korean company said in its earnings preview. The result was higher than the market consensus of 9.3 trillion won, according to financial data provider FactSet. Its sales stayed nearly flat at 50 trillion won ($44 billion) during the first quarter. It is scheduled to give more details including quarterly net profit later in the month.

Source: ABC News April 07, 2017 00:32 UTC