Samsung admits q1 operating profit and beats making expectations The semiconductor company is, in actuality, allegedly projected to account for almost 65 percent of their entire profit of the company.
CW Chung, Korea research head in Nomura, has said that the semiconductor exports in South Korea is projected to enroll year-on-year growth along with also the memory chip market is set to stay strong despite the present economic downturn due to this coronavirus outbreak. This may result from the increasing trends of workers working from home and increased incidence of online learning. On the other hand, the marketplace could suffer should the pandemic continues to enlarge until the next half of 2020.
Analysts have allegedly estimated that the company to obtain 6.2 trillion since the Q1 operating profit. The company is also anticipating the consolidated revenue of 55 trillion won from the first quarter, up by 5 percent from 2019. Furthermore, its share has also seen an increase of approximately 1.85%.
Based on SK Kim, Daiwa Securities’ executive manager & adviser, strong demand for memory chips and its own cost-saving attempts are expected to push the company’s earnings. He added that the coronavirus outbreak has caused the rising sales for digital devices like memory chips from online shopping stage.
These processors are used by data centers to encourage various services, as workers increasingly work at home.
Samsung, a South Korean multinational conglomerate, has announced an increase in its own 3-month operating profit when compared with the former year, marginally beating the earnings estimates.