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Samsung’s Sales & Profits Were Unaffected During Q1 2020 Despite Coronavirus

According to Samsung’s latest quarterly earnings guidance report, the tech giant’s earning came out almost unscathed in the first quarter of 2020. The report details that there was a 5% rise in sales on a yearly basis. The operating profit inncreased by 3% as compared to Q1 yesteryear.

 Q1 2020 Guidance KRW / USDQ1 2019 Results KRW / USDQ4 2019 Results KRW / USD
Sales55 trillion / 45.1 billion52.39 trillion / 43 billion59.88 trillion / 49.1 billion
Operating Profit6.4 trillion / 5.25 billion6.23 trillion / 5.11 billion7.16 trillion / 5.87 billion

 

The guidance report shows that the company’s first-quarter revenue was 44.9 billion dollars. However, Samsung has not provided the break down of its earnings. The full report with divisions is expected at the end of the month.

According to analysts, Samsung’s semiconductor business has bloomed in the short term, mainly due to the extra demand as a consequence of masses working from home.

As far as the Korean tech giant’s consumer electronics business is concerned, it will take a hit inevitably as the aftermath of retail closures, supply chain disruption, and financial uncertainty. Even though this does not reflect in the Q1 earnings, it will show up in future reports depending on how long the pandemic remains.

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