Samsung earnings guidance reveals strong Q1 despite COVID-19 outbreak

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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.
Samsung earnings guidance reveals yearly increase in Q1 2020
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.

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