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Samsung Q1 earnings above expectations

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Motorola had truly bad results, Nokia wasn’t too great, but Samsung and Sony Ericsson are the stars from mobile world, with great earnings and good profits.

Today (I mean, yesterday, at Seoul, Korea), Samsung presented first quarter earnings, and in my perspective with a great outlook, with a good sales increase and beating estimates.

Yesterday (I really don’t know if I should say today or yesterday, but I am talking about the last market activity), Samsung shares rose by 4,5% to 690,000.000, with good results. As that, Monday might be a great day to the Korean Market with Samsung impulsing the whole market (Samsung have capability to conduct Korean market, as its company dimension and quantity of shares, just like LG), after earnings from liquid-crystal displays jumped to a record and profit from mobile phones surged to a four-year high. The company, whose chairman is stepping down after being charged with tax evasion and breach of duty, is projected by analysts to sustain growth as chip prices recover in the second half. Just look at the profit and look at the chairman situation :D Let me remind you that the Korean Index, KOSPI, reached new 3 month highs.

First-quarter net income rose 37 percent to 2.19 trillion won ($2.2 billion), Asia’s largest maker of chips, flat screens and mobile phones, said in a statement today. Profit and sales at the Suwon, South Korea-based company beat analyst estimates.

One analyst, from this journal, Forbes, had this information:

‘The first-quarter results are really impressive. I will revise my target price for the stock again, given the company faces better seasons ahead,’ said Song Myung-sub, an analyst at CJ Investment & Securities.

He upgraded his six-month target price for Samsung Electronics to 740,000 won from 610,000 won just a month ago.

I remind you, shares closed at 690,000.000.

Have nice and good investments and also a nice weekend.

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By , Financial Director and Correspondent on Apr 25th, 2008 GMT +2


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