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Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Here are Samsung's first-quarter results versus LSEG estimates: Revenue: 71.92 trillion Korean won (about $52.3 billion), vs. 71.04 trillion Korean won71.92 trillion Korean won (about $52.3 billion), vs. 71.04 trillion Korean won Operating profit: 6.61 trillion Korean won, vs. 5.94 trillion Korean won Samsung's revenue for the quarter ending March jumped 12.81% from a year ago, while operating profit soared 932.8% in the same period. The figures were in line with the company's guidance earlier this month, where Samsung said operating profit in the January-March quarter likely rose to 6.6 trillion Korean won, up 931% from a year ago. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand. Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products," Samsung Electronics said in a statement on Tuesday.
Persons: SeongJoon Cho, SK Kim, Kim, TSMC, Biden Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Samsung Electronics, Memory Business, SK, Daiwa, CNBC, Micron, Citi, , Japan's Rapidus Corporation Locations: Seoul, South Korea, Korean, Taiwan, Texas, U.S, Asia
SHANGHAI, CHINA - MARCH 14, 2024 - Visitors visit the Galaxy S24 phones at SAMSUNG booth at AWE2024 in Shanghai, China, March 14, 2024. Samsung Electronics on Friday said it expects to post a 931% increase in first quarter operating profit, as chip prices rebound. Profit in the first quarter of 2023 was 0.64 trillion won. The profit guidance for the first quarter of 2024 exceeds LSEG's estimate of 5.24 trillion won. Daiwa maintained their "buy" rating on Samsung Electronics and lifted price target to 110,000 won.
Persons: Kim, Daiwa Organizations: Galaxy, SAMSUNG, Samsung Electronics, SK Kim, Daiwa Securities Locations: SHANGHAI, CHINA, AWE2024, Shanghai, China
(Photo by Jakub Porzycki/NurPhoto via Getty Images) Jakub Porzycki | Nurphoto | Getty ImagesSamsung Electronics on Wednesday posted a 34.57% drop in operating profit in the fourth quarter from a year ago, in line with its guidance issued earlier this month. Here are Samsung's fourth-quarter results versus estimates: Revenue: 67.78 trillion Korean won (about $51 billion), vs. 69.27 trillion Korean won expected by LSEG analysts67.78 trillion Korean won (about $51 billion), vs. 69.27 trillion Korean won expected by LSEG analysts Operating profit: 2.82 trillion Korean won, vs. 3.43 trillion Korean won expected by LSEG analysts Samsung's revenue for the quarter ending December fell 3.8% from a year ago, while operating profit dropped 34.57% in the same period. In its earnings guidance earlier this month, Samsung said it expected operating profit for the October-December quarter to be 2.8 trillion South Korean won ($2.13 billion), down 35% from the same period a year ago when the firm reported an operating profit of 4.31 trillion won. Daiwa Capital Markets in a Jan. 9 report said Samsung's revenue and operating profit estimates were "lower than our market estimates." "We aim to establish Samsung as the leading brand in the AI smartphone market," said Samsung.
Persons: Jakub Porzycki, SK Kim, Apple, Bryan Ma, Ma Organizations: Samsung, Getty, Nurphoto, Samsung Electronics, Korean, South Korean, Daiwa, SK, Apple, International Data Corporation, IDC Locations: Krakow, Poland
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDaiwa Securities discusses Samsung Electronics' earnings guidanceSK Kim, executive director of Daiwa Securities, discusses the South Korean giant's performance in the China market.
Organizations: Daiwa Securities, Samsung Electronics, SK Kim Locations: China
Costfoto | Nurphoto | Getty ImagesSamsung Electronics earnings are expected to plunge nearly 80% in the third quarter, according to analyst forecasts, as the company's biggest profit-driving segment — semiconductors — continues to come under pressure. Analysts polled by LSEG expect operating profit of 2.3 trillion Korean won ($1.7 billion) for the September quarter, a 78.7% year-on-year decline. Revenue is expected to come in at 67.8 trillion won, a fall of 11.6%, according to LSEG consensus forecasts. Samsung's semiconductor business — typically the company's cash cow — is expected to post a more than 3 trillion won loss for the third quarter, according to analyst forecasts, as it continues to face headwinds. Daiwa analyst SK Kim sees operating profit for the third quarter at 1.65 trillion won, much lower than the average analyst estimate of 2.3 trillion won.
Organizations: Samsung, Nurphoto, Getty, LSEG, Revenue, Daiwa, Markets, SK Kim, Apple Locations: Hangzhou, East China's Zhejiang, Korean
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrength in AI chips is unlikely to offset overall weakness in demand for SK Hynix: AnalystSK Kim of Daiwa Capital Markets discusses SK Hynix's latest earnings and the severe competition the company may face regarding AI-related chips in the future.
Organizations: SK Hynix, SK Kim, Daiwa, Markets, SK Hynix's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSamsung's memory chip prices to rebound end-2023 or early 2024, says analystSK Kim of Daiwa Capital Markets expects Samsung's memory chip production cut to take place in the third quarter, leading to an uplift in prices.
Persons: SK Kim Organizations: SK, Daiwa
The memory chip market is facing a 'deep downturn,' analyst says
  + stars: | 2023-04-27 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe memory chip market is facing a 'deep downturn,' analyst saysSK Kim of Daiwa Capital Markets says there will probably be a gradual recovery rather than a sharp rebound.
Samsung's profit plunged 95% amid weak memory chip demand
  + stars: | 2023-04-27 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
(Photo by Joan Cros/NurPhoto via Getty Images)South Korean electronics giant Samsung's operating profit plunged in the first quarter as prices for its memory chips continued to fall and demand remained weak. Here are Samsung's earnings at a glance in the first quarter:Revenue: 63.75 trillion Korean won (about $47.6 billion). That is on par with Samsung's own guidance of approximately 63 trillion Korean won but below the 63.9 trillion won expected by analysts, according to Refinitiv consensus estimates. Operating profit: 640 billion Korean won (roughly $478.55 million), down from 14.12 trillion won a year earlier. The company issued guidance earlier this month saying Q1 profit would be 600 billion Korean won.
China remains important to Samsung Group, says analyst
  + stars: | 2023-03-27 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina remains important to Samsung Group, says analystSK Kim of Daiwa Securities Capital Markets discusses the outlook for South Korea's semiconductor industry.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSamsung Electronics and other memory chipmakers could cut production by 20%, says analystSK Kim of Daiwa Securities Capital Markets says that without a meaningful adjustment in production, it'll be difficult to match supply with demand.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSK Hynix's production growth could be negative next year, says analystSK Kim of Daiwa Capital Markets discusses SK Hynix's announcement of a capex cut and the company's plans to reduce production.
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