‎“Samsung” records operational profits of $454.9 mln during Q1, ‎down 95.8%‎

Samsung Electronics Co. estimated Friday that its operational profit for the first quarter was 600 billion won ($454.9 million), which is a 95.8 percent drop from a year earlier.

According to the “Korean Yonhap” agency, revenues also decreased by 19%, to reach 63 trillion won, and net profit data was not available.

Operational profit came in 16.7% lower than average estimates, according to a survey by Yonhap Infomax, the financial arm of Yonhap News Agency.

The company will issue a report on its final profits later.