Tech giant Samsung Electronics said on Thursday its first-quarter operating profit likely rose 10.4 percent from a year earlier, beating expectations and pointing to strong sales of its new Galaxy S7 smartphones.
The outlook will raise hopes the South Korean firm's struggling mobile business is on track to post its first annual profit gain in three years after a healthy start for new premium products and improved mid-to-low tier devices.
The world's top smartphone maker said in a regulatory filing its January-March operating profit was likely 6.6 trillion won ($5.72 billion), well above the 5.6 trillion won profit tipped by a Thomson Reuters StarMine SmartEstimate derived from a survey of 23 analysts.
The operating profit guidance was also higher than any individual forecast in the survey. Samsung's shares opened 1.2 percent higher following the guidance and were last up 0.7 percent, outperforming a 0.4 percent gain for the broader market.