Competing with world giants in the production of processors, chipsets, screens and many other mobile device components, Samsung achieved great success in 2024. According to the brand’s announced operating profit reports, the company reported that it increased its profit by 932 percent in the first quarter of 2024 as of the end of March. So what exactly does this rate amount to when converted into cash? Here are Samsung Electronics first quarter profit rate and details…
Samsung is breaking a record in the first quarter! 932 percent profit increase!
Samsung Electronics announced its profitability targets in its statement last Tuesday. As it is known, we are living in the last days of April and the first quarter reports covering the January-March period are expected to be presented. The company announced last Tuesday that it expected its operating profit to increase by 931 percent.
Looking at the reports published today, Samsung stated that it increased its revenues by 12.81 percent in March 2024 compared to March 2023. He continued by stating that revenues increased by 932.8 percent in the January-March period, that is, in the first quarter of 2024.
The first did not surprise! The countries with the fastest internet in the world have been announced
Which countries have the fastest fixed internet? Where does Türkiye rank? Here are the countries with the fastest internet in the world…
The table prepared according to the predictions and results made by LSEG is as follows:
Samsung Electronics’ earnings in the first quarter expected revenue 71.04 trillion Korean won (about $51 billion)
by Samsung Electronics in the first quarter obtained revenue 71.92 trillion Korean won (about $52.3 billion)
When it comes to operating profit rates, Samsung Electronics was expected to make a profit of 5.94 trillion Korean won, according to the estimates made by LSEG, while the company had an operating profit of 6.6 trillion Korean won.
When we look at the revenue generated by the company in general, we can see that the demand problems experienced during the pandemic period have been largely resolved. Because the demand for the technology sector decreased significantly during the pandemic period. This caused serious decreases in the profit rates of big brands such as Samsung.
So what do you think about Samsung Electronics’ first quarter profit rate? Don’t forget to express your opinions in the comments section…