Samsung earnings guidance reveals strong Q1 despite COVID-19 outbreak
The latest quarterly earnings guidance by Samsung is out and the numbers look promising. In the first three months of 2020, the company increased its sales by 5% on a yearly basis, while the operating profit rose 3%, compared to Q1 2019.
| Q1 2020 Guidance KRW / USD | Q1 2019 Results KRW / USD | Q4 2019 Results KRW / USD | |
| Sales | 55 trillion / 45.1 billion | 52.39 trillion / 43 billion | 59.88 trillion / 49.1 billion |
| Operating Profit | 6.4 trillion / 5.25 billion | 6.23 trillion / 5.11 billion | 7.16 trillion / 5.87 billion |
The official guidance for Q1 2020 is in line with analysts’ expectations posted earlier this month. As expected the semiconductor business had a great a great quarter keeping profits solid, despite the huge hit taken by the mobile business caused by the COVID-19 pandemic.
The full report with detailed sales and profit breakdown by division is expected at the end of the month. Then we’ll see how big is exactly the blow for the mobile business of Samsung and whether the estimated prediction of 62.2 million shipped units (down from 71.5 million in Q1 2019) is correct.
