Samsung profits for Q1 2013 estimated at over $7.7 billion
Samsung profits are certainly not a reason to complain for the Korean company, even without sales of the Samsung Galaxy S4, which is yet to arrive in stores.
That’s because, according to the earnings guidance the company has announced today, things are going quite well on the financial front. According to the guidance, Samsung’s operating profit in this year’s first quarter will be approximately 8.7 trillion Korean won (around $7.7 billion), a slight decrease compared to the $8.3 billion in last year’s fourth quarter, but a pretty large increase when compared to the same time last year, when Samsung had turned a profit of around $5.15 billion.
As far as sales revenue goes, Samsung is expecting to be at around 52 trillion Korean Won (around $46.2 billion), a decrease over last year’s fourth quarter (56 trillion Korean Won), but a significant increase over the same time last year (45 trillion Korean Won).
The figures are just estimates, and the final announced results could differ. It will be interesting to see, though, how sales of the Samsung Galaxy S4 will reflect in Samsung’s second quarter results. Analyst Lee-Seung woo from IBK Securities, quoted by the Financial Times, expect Samsung’s operating profit to go over 10 trillion Korean Won in Q2 2013, boosted by sales of the Samsung Galaxy S4.
Samsung Electronics Co., Ltd. today announced its earnings guidance for the first quarter of 2013.
Consolidated sales: Approximately 52 trillion Korean won
(Range: 51 – 53 trillion Korean won)
Consolidated operating profit: Approximately 8.7 trillion Korean won
(Range: 8.5 – 8.9 trillion Korean won)
The above figures are consolidated earnings estimates based on K-IFRS
※ 2012 4Q and 2012 1Q consolidated figures based on K-IFRS are as follows (in trillion won)
Disclosure regulations in South Korea do not allow earnings guidance to be provided as a range, therefore the official disclosure was made based on the median value as stated above.
The guidance is provided ahead of the full announcement of quarterly earnings results for the convenience of investors and media, before our external audit on the financial results of our headquarters, subsidiaries and affiliates is completed. Therefore, the above estimate may differ from the actual results.
The full earnings for the fourth quarter will be disclosed following the Board of Directors’ approval of the financial statements and quarterly reports.