Samsung: large profits expected for the end of the fiscal year

Samsung announced its quarterly earnings targets for the end of the fiscal year. The Korean giant estimates a consolidated turnover of approx 76 trillion in KRW (approximately $ 63.2 billion) between October and December 2021. The company is looking to make money 13.8 trillion in KRW ($ 11.4 billion) of operating income during the aforementioned three-month period.

Samsung: large profits expected for the end of the fiscal year

These figures mark a huge year-over-year leap in both consolidated revenue and operating profit compared to the same period last year. Samsung reported KRW 61.55 trillion in revenue and KRW 9.05 trillion in profits in the fourth quarter of 2020. As a result, we are seeing a 23.5% year-over-year increase in revenue and a massive 52.5% year-over-year increase in profits in the last quarter.

Samsung posted its highest-ever quarterly revenue of KRW 73.98 trillion in the third quarter of last year. L’quarterly operating profit company’s share of KRW 15.82 trillion in the third quarter of 2021 was also the second-highest ever in history and the highest in the past three years.

For the full year of 2021, Samsung’s revenue exceeded 278 trillion KRW ($ 231 billion). This is likely a record for the company, with an operating profit also exceeding KRW 51 trillion ($ 42 billion). The company had reported sales of KRW 236.81 trillion and KRW 35.99 trillion in operating profit in 2020, showing growth of 17% and 42%.

The health crisis globalization has changed the way we work, learn and deal with many other aspects of our lives, as a result of which there has been a growing demand for network and cloud storage devices, as well as semiconductors. Samsung, being a major player in all of these industries, has had great financial results thanks to increased demand.