Samsung Electronics Q1 Operating Profit and Revenue Exceed Market Expectations

On April 30, Samsung Electronics reported a 756.1% year-on-year increase in operating profit for the first quarter, reaching 57.23 trillion won (approximately 38.5 billion USD), setting a new quarterly record. The semiconductor business contributed the majority of the earnings, while revenue grew by 69.2% year-on-year to 133.87 trillion won, and net profit increased by 474.3% to 47.23 trillion won. The Device Solutions division (responsible for its semiconductor business) achieved revenue of 81.7 trillion won and operating profit of 53.7 trillion won. These results far exceeded market expectations. According to financial data provider FnGuide, local brokerages had generally anticipated revenue of 117.13 trillion won and operating profit of 38.12 trillion won over the past month. Samsung Electronics' latest quarterly revenue and operating profit both surpassed the previous quarter's record highs of 93.84 trillion won and 20.07 trillion won, respectively.