Samsung Electronics' Q1 operating profit and revenue far exceeded market expectations

Samsung Electronics' operating profit in the first quarter increased by 756.1% year-on-year, reaching 57.23 trillion won (approximately 38.5 billion USD), setting a new quarterly record. The chip business contributed the majority of the earnings, while revenue grew by 69.2% year-on-year, reaching 133.87 trillion won, and net profit increased by 474.3%, reaching 47.23 trillion won. The Device Solutions division (responsible for its semiconductor business) achieved revenue of 81.7 trillion won, with operating profit reaching 53.7 trillion won.

These results far exceeded market expectations. According to data from financial data provider FnGuide, local brokerages had generally expected 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 record highs set in the previous quarter (93.84 trillion won and 20.07 trillion won, respectively).