Seoul: Samsung Electro-Mechanics Co. on Tuesday announced a notable decrease in its first-quarter net income, which fell by 24.1 percent to 141.6 billion won (US$98.4 million) compared to the previous year. Despite this decline, the company's operating income for the January-March period saw a 9.2 percent increase, reaching 200.6 billion won, while revenue rose by 4.8 percent to 2.73 trillion won.
According to Yonhap News Agency, the earnings results did not meet market expectations. Analysts had projected a higher average net profit of 172.2 billion won, as per a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.