Business

Samsung Electronics says first-quarter profit likely rose 44%, in line with analyst estimate

SEOUL (Reuters) – Samsung Electronics Co Ltd said on Wednesday first-quarter operating profit likely rose 44% on brisk sales of home appliances, smartphones and television sets, though chip earnings likely fell after a winter storm halted U.S. output.

The South Korean technology giant forecast January-March profit of 9.3 trillion won ($8.32 billion), in line with a 9.3 trillion won analyst forecast from Refinitiv SmartEstimate.

Revenue likely rose 17% from the same period a year prior to 65 trillion won, the firm said in a short preliminary earnings release.

Samsung is due to release detailed earnings later this month.

(Reporting by Joyce Lee and Heekyong Yang; Editing by Christopher Cushing)

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