Samsung SDI Posts Smaller-Than-Expected Loss; Sending Gain

South Korean battery maker Samsung SDI Co. reported a smaller-than-expected first-quarter loss, helping its shares extend a blistering rally, as demand for energy storage systems and electric cars in Europe helped cushion the impact of dwindling EV support in the US.

The company’s operating loss narrowed 61% to 155.6 billion won ($106 million) in the three months ended March 31, it said Tuesday. That was significantly smaller than analyst estimates of a 270.7 billion won shortfall.