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Samsung SDS profit misses consensus by 16.5% in Q1

Samsung SDS Co. Ltd. said its normalized net income for the first quarter was 1,149.80 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,376.72 won per share.

EPS climbed 19.8% year over year from 959.85 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 88.94 billion won, a gain of 19.8% from 74.24 billion won in the year-earlier period.

The normalized profit margin declined to 4.1% from 4.3% in the year-earlier period.

Total revenue increased 23.2% year over year to 2.150 trillion won from 1.745 trillion won, and total operating expenses rose 23.6% year over year to 2.003 trillion won from 1.621 trillion won.

Reported net income fell 29.8% on an annual basis to 89.73 billion won, or 1,160.01 won per share, from 127.85 billion won, or 1,653.00 won per share.

As of May 15, US$1 was equivalent to 1,116.40 South Korean won.