Samsung Electronics’ first-quarter income rises 474.3% to 47.22 trillion won

SEOUL, April 30, 2017 (WAM) – Korean electronics company Samsung announced today that its net income rose by 474.3% year-on-year in the first quarter of this year, reaching 47.22 trillion won.

The company said in a statement that its operating profits for the period from January to March amounted to 57.23 trillion won ($38.43 billion), recording a jump of 756.1% on an annual basis, and its sales increased by 69.2% to reach 133.87 trillion won in the same period.

These profits exceeded market expectations, as the average analyst estimate for net profit settled at 39.12 trillion won, according to a survey conducted by Yonhap Infomax, a company specializing in financial data and affiliated with Yonhap News Agency.

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