Seoul: Samsung Securities Co. on Wednesday reported its first-quarter net profit of 248.4 billion won (US$174.9 million), marking a decline of 1.9 percent from the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that it achieved an operating profit of 334.6 billion won for the quarter, compared to 331.6 billion won in the same period last year. Despite the drop in net profit, sales decreased by 12.1 percent, amounting to 3.27 trillion won.
The earnings results exceeded market expectations. Analysts had predicted an average net profit of 234 billion won, as per a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.