Samsung today announced its outlook for the second quarter of the fiscal year 2021. Samsung expects that the company’s second-quarter operating profit will be 12.50 trillion won (approximately US$10.992 billion), a year-on-year increase of 53.37%, exceeding analyst expectations.
Samsung said that the consolidated revenue in the second quarter will be between 62 trillion won and 64 trillion won. Calculated at the midpoint of the range, it is 63 trillion won (approximately US$55.402 billion), an increase of 18.94% from 52.97 trillion won in the same period of the previous year; operating profit will range from 12.4 trillion won to 12.6 trillion won, according to the range The median value is calculated to be 12.50 trillion won (approximately 10.992 billion US dollars), an increase of 53.37% from 8.15 trillion won in the same period last year.
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Reuters previously reported that driven by rising chip prices and increasing consumer demand for electronic products due to the epidemic, Samsung Electronics’ second-quarter operating profit is likely to surge 38% year-on-year. On average, 20 analysts surveyed by financial information provider Refinitiv SmartEstimate predict that Samsung’s second-quarter operating profit will reach 11.3 trillion won (approximately US$10 billion), the highest operating profit since the second quarter of 2018.
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