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Samsung Electronics Q1 profit falls YOY

Samsung Electronics Co. Ltd. said its first-quarter normalized net income came to 29,032.17 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 31,750.22 won per share.

EPS decreased 31.1% year over year from 42,129.20 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.759 trillion won, a decrease of 40.8% from 6.353 trillion won in the year-earlier period.

The normalized profit margin fell to 8.0% from 11.8% in the year-earlier period.

Total revenue decreased 12.2% on an annual basis to 47.118 trillion won from 53.675 trillion won, and total operating expenses decreased 9.0% year over year to 41.139 trillion won from 45.187 trillion won.

Reported net income fell 47.6% year over year to 3.924 trillion won, or 30,310.70 won per share, from 7.485 trillion won, or 49,632.50 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.