Samsung Electronics Q1 net income down 86.1 pct to 1.57 tln won

Samsung Electronics-Q1 earnings

Samsung Electronics Q1 net income down 86.1 pct to 1.57 tln won

SEOUL, April 27 (Yonhap) -- Samsung Electronics Co. on Thursday reported its first-quarter net income of 1.57 trillion won (US$1.2 billion), down 86.1 percent from a year earlier.

The company said in a regulatory filing that it posted 640.2 billion won in operating profit for the quarter, compared with 14.12 trillion won a year ago. Revenue fell 18 percent to 63.74 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 747 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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