Samsung Electronics just hit its second-highest revenue in the second quarter. They made 77 trillion won (59.3 billion US dollars).
Highlights
- Samsung Electronics made its second-highest revenue in the company’s highest.
- It made the highest revue in Q1 of 2022 with 77.78 trillion won (59.9 billion US dollars).
- Revenue was not expected to be this high by Samsung Electronics.
- The full report of the revenue will be released later this month.
Samsung Electronics is the world’s largest memory chip and smartphone manufacturer. Samsung makes everything from smartphone chipsets to television to smartphone screens and many more.
Samsung is making this their best year yet as they made 77.78 trillion won, their highest revenue ever in Q1 2022. Q2 was also not far behind with 77 trillion won, their second-highest revenue ever.
From the 77 trillion won, they made 14 trillion profits, which is their highest profit in three months ending June 30 since 2018, in which they made12.57 trillion won.
Even though the estimate was 14.45 trillion won as profit but they only missed that by some margin. The estimate was made by the Refinitiv SmartEstimate.
Samsung has reported that they will turn a year-on-year increase of 15% in profit from 2018.
The increase in the demand for the smartphones they make and the long-lasting demand for the memory chips they made, put them in the best year they can possibly ever have period.
Samsung has since reported its detailed earnings for these 3 months. They will likely release the data about the earnings in the last week of the month.
The demand for the chips is rising as the year passes. Companies like Amazon, Microsoft, Google and Facebook parent company Meta are likely to need more and more chips for their server as they are promoting cloud services.
Cloud services will make the demand for the chips increase as the need for servers will increase. An increase in chip demand will profit all the chip manufacturers.
Samsung, TSMC, Intel and AMD will make more profit but they will have to meet up with the increase in demand as it will be higher than expected.
You can read about the competition between TSMC and Samsung here.
Read more: – Samsung Electronics logs 2nd-highest revenue in Q2
