Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = Samsung Electronics announced a preliminary estimate for the first quarter of 2024 (consolidated).

The announcement said 71 trillion won of revenues and 6.6 trillion won of operating profits were generated in 1Q 2024, which is 11.37% and 931.25% higher YoY, or 4.75% and 134.04% higher QoQ, respectively.

In particular, Samsung’s 1Q 2024 earnings were above the consensus estimate. Analysts said the great profits were driven by reduced memory chip production, better circumstances in the semiconductor industry, and higher sales of the Galaxy S24 series.

The preliminary estimate was estimated based on the K-IFRS.

By Hyun-jin Kim(kimhj30310@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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