Samsung Electronics launched Thursday its preliminary earnings for the primary quarter of 2022.
The corporate stated it forecasts to report consolidated income of $63.1 billion (77 trillion KRW) and an working revenue of about $11.6 billion (14.1 trillion KRW) for the quarter ended March. These numbers are up from the primary quarter of 2021, which generated gross sales of $53.6 billion and an working revenue of $7.6 billion.
The Korean tech big is predicted to put up its highest first-quarter working revenue since 2018, representing a 50% rise from final 12 months’s first quarter, based on Reuters. This beats the working revenue of $10.9 billion (13.4 trillion KRW) Bloomberg’s analysts had anticipated. Gross sales, which is more likely to high the prior report of $62.8 billion (76.6 trillion KRW) in 4Q22, can be above market expectation, roughly $61.4 billion (74.9 trillion KRW) estimated by S&P Market Intelligence analysts, per WSJ.
The gross sales and income are according to sturdy demand for reminiscence chips and Samsung’s newest lineup, the Galaxy S22.
The Korean agency, which produces DRAM and NAND reminiscence chips, appears to have benefited from strong chip demand from customers regardless of the current worth drop in semiconductor chips, based on analysts cited by Reuters. DRAM costs may drop in 2Q 22 as a consequence of inflation and the persevering with Russia-Ukraine struggle; NAND worth is predicted to rise roughly 5% to 10% within the second quarter of this 12 months following a uncooked materials contamination subject at a three way partnership facility of Japan’s Kioxia and the U.S-based Western Digital, which disrupted NAND flash manufacturing, per TrendForce.
Samsung stated Wednesday the gross sales of the Galaxy S22 collection are more likely to exceed 1 million models in South Korea by the tip of this week. The agency can be anticipated to have shipped greater than 6 million models of the S22 collection by the tip of March after its launch in February, Sujeong Lim, an affiliate director at analysis agency Counterpoint, advised Reuters.
The corporate will announce its full Q1 earnings outcomes on April 28.
