Samsung Beats Estimates as Early Debut of S7 Boosts Sales
- Marquee device gained sales after being released earlier
- Analysts upgraded S7 estimates after doing channel checks
Samsung 1Q Op Profit, Revenue Beat Estimates
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Samsung Electronics Co. posted a better-than expected first-quarter profit after the early release of Galaxy S7 smartphones gave it a head-start on Apple Inc. and Chinese rivals and helped counter an industry downturn.
Operating income rose to 6.6 trillion won ($5.7 billion) in the three months ended March, the world’s largest maker of phones and memory chips said in preliminary results released Thursday. That compares with the 5.53 trillion-won average of analysts’ estimates compiled by Bloomberg.