April 6, 2017 / 11:42 PM / 6 months ago

Samsung Elec says Q1 operating profit likely rose 48 pct y/y

SEOUL, April 7 (Reuters) - Tech giant Samsung Electronics Co Ltd estimated on Friday its first-quarter operating profit rose 48 percent from a year earlier, beating expectations as strong memory chip prices likely padded margins.

Samsung, in a regulatory filing, said its January-March profit was likely 9.9 trillion won ($8.76 billion), compared with an average forecast of 9.4 trillion won from a Thomson Reuters survey of 18 analysts.

Revenue likely rose 0.4 percent from a year earlier to 50 trillion won, Samsung said.

The company did not elaborate on its performance and will disclose detailed earnings in late April. ($1 = 1,130.0900 won) (Reporting by Se Young Lee; Editing by Stephen Coates)

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