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Samsung Q1 earnings are also strong, $6.4 billion in profits for the three-month period

Samsung pulls in $6.4 billion net profit for Q1 2013

| Business, Financial & Legal News | Posted: Apr 26, 2013 3:29 am

We've seen so many financial reports this week, and now South Korean electronics giant Samsung have joined in the race. Their Q1 2013 numbers are strong, with operating profits of $7.9 billion, a huge 50% gain year-over-year for the same three-month period.

 

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Revenues were a hefty $47.6 billion, with a net profit of $6.45 billion. Samsung have said that strong smartphone sales as well as reductions in marketing expenses helped boost their IT & Mobile Communications division to revenues of $29.6 billion alone. Their revenues were hit though, taking in 6% less cash than the previous quarter, something they've pegged on a slow economy, equating to lower TV and home appliance sales.

NEWS SOURCES:Engadget.com

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