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Samsung's QI profit likely to be highest in 6 quarters
The Straits Times
|April 05, 2024
Samsung Electronics is expected to post a near ninefold increase in first-quarter profit from a year earlier as rebounding semiconductor prices lift earnings from a low base caused by a severe chip downturn.
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Operating profit for the world's biggest maker of memory chips and television sets likely rose to 5.7 trillion won (S$5.7 billion) in the quarter ended March 31, 2024, according to the average of a London Stock Exchange Group SmartEstimate from 27 analysts, weighted towards those who are more consistently accurate.
If so, it would be Samsung's highest profit since the third quarter of 2022. This compares with an operating profit of 640 billion won in the first quarter of 2023.
This is because its chip division, traditionally its biggest earner, is expected to report its first quarterly profit in five quarters of about 750 billion won, according to an average estimate from 12 analysts.
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