Samsung Electronics posts $5 bn operating profit

Seoul, April 27 (IANS) Samsung Electronics posted its fresh record high of operating profit in the first quarter, a regulatory filing showed Friday.

Consolidated operating profit reached a new record of 5.85 trillion won ($5.16 billion) in the first quarter, up a whopping 98.42 percent from a year earlier, according to the regulatory filing. From three months before, the figure jumped 10.46 percent, reported Xinhua.

The results were larger than the company's preliminary estimate of 5.8 trillion won ($5.12 billion) announced earlier this month, and it topped the previous record high of 5.3 trillion won ($4.68 billion) tallied in the fourth quarter of 2011.

Sales expanded 22.4 percent on-year to 45.27 trillion won ($39.9 billion) in the three months ending March 31, and net profit surged 81.29 percent to 5.05 trillion won ($4.46 billion). The revenue results were slightly higher than an earlier estimate of 45 trillion won ($39.8 billion).