Samsung has launched its monetary steerage for the second quarter of 2024, exhibiting a big uptick in income. The Korean firm additionally reported gross sales of roughly KRW 74 trillion, a 23% improve in comparison with the identical interval final 12 months.
The working revenue is predicted to be KRW 10.4 trillion, which is fifteen instances larger than April-June 2023.
| (all items in KRW / USD) |
Q2 2024 Earnings Steerage |
Q1 2024 | QoQ Change | Q2 2023 | YoY Change |
| Gross sales | 74 trillion / 53.5 billion |
71.92 trillion / 52.06 billion |
2.9%% | 60 trillion / 46 billion |
23% |
| Working Revenue | 10.4 trillion / 7.53 billion |
6.61 trillion / 4.78 billion |
57% | 0.6 trillion / 455 million |
1633% |
Nonetheless, this dramatic improve is barely deceptive. 2023 was a difficult 12 months for Samsung because of declining chip demand. Whereas shoppers and producers have shifted away from chips for graphics playing cards, they’re now specializing in the rising development of AI.
Firms are creating AI-powered gadgets and servers that require extra computing energy, and Samsung provides the required semiconductors. A comparability with 2022, earlier than the numerous dip, reveals that gross sales and revenue are actually throughout the similar vary.
In response to analysis by TrendForce, quoted by Reuters, reminiscence chip costs surged by 13-18% in only one quarter.
Analysts predict that high-end chips (HBM) and SSDs will lead the market in 2024, although Samsung has been trailing behind fellow Korean producer SK Hynix in supplying HBM to key clients like Nvidia.
Supply | Through