Samsungs profits are slightly up during the COVID-19 outbreak

Samsung Electronics is one of the first major tech giants to announce earnings figures since the coronavirus pandemic broke out, and so far at least the company appears to have been relatively unaffected. In guidance released today, Samsung says its first-quarter revenue was approximately 55 trillion won ($44.9 billion), which would be a year-on-year increase of five percent. Operating profit is expected to rise three percent to 6.4 trillion won ($5.23 billion).

Samsung does not break down its earnings guidance by division or comment on its business performance until the final report is released later in the month. Daiwa Securities’ SK Kim suggests to CNBC that the company’s all-important memory chip unit is likely to perform well in the...

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