Samsung Electronics posted a double-digit growth in the first quarter operating profit, a regulatory filing showed Friday.

Operating profit was 9.9 trillion won (8.7 billion U.S. dollars) in the January-March quarter, up 48.2 percent from a year earlier. From the previous three-month period, the profit increased 7.38 percent.

The figure was almost near to the company’s biggest-ever operating profit of 10.16 trillion won tallied in the third quarter of 2013. It beat market expectations of about 9.4 trillion won.

The first-quarter revenue was 50 trillion won, up 0.44 percent from a year earlier. Compared with the prior quarter, the revenue was down 6.24 percent.

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Indicating Samsung’s improved profitability, the ratio of operating profit to revenue came in at 19.8 percent in the quarter, up 6.5 percentage points from a year earlier.

Net income and detailed profits in each business units would be unveiled later this month. Enditem

Source: Xinhua/NewsGhana.com.gh