Samsung has announced its quarterly earnings guidance for Q4 2021. The Korean behemoth is expecting another strong financial performance in the market, after recording its highest-ever quarterly revenue in the third quarter. It is estimating a consolidated sales revenue of around KRW 76 trillion (approx. USD 63.2 billion) between October to December 2021. The company is looking to rake in KRW 13.8 trillion (~$11.4 billion) in operating profit during the aforementioned three months period.
These figures mark a massive year-on-year (YoY) jump in both consolidated sales revenue and operating profit from the same period a year earlier. Samsung reported KRW 61.55 trillion in sales revenue and KRW 9.05 trillion in profit in Q4 2020. So we are looking at a 23.5 percent YoY increase in revenue and a massive 52.5 percent YoY increase in profit this past quarter.
As said earlier, Samsung recorded its highest-ever quarterly revenue of KRW 73.98 trillion in the third quarter of last year. But it is now estimated to have topped that figure in the following quarter. The company’s quarterly operating profit of KRW 15.82 trillion in Q3 2021 was also its second-highest ever in history and the highest in the past three years, having raked in a staggering KRW 17.5 trillion in Q3 2018. While the estimated figure for the fourth quarter projects a 12.8 percent quarter-on-quarter (QoQ) decline in profit, you can say Samsung had a healthy Q4 2021.
For the full year of 2021, Samsung’s sales revenue has crossed a whopping KRW 278 trillion (~231 billion). This is likely a record high for the company. Its operating profit also crossed KRW 51 trillion (~42 billion). The company had reported KRW 236.81 trillion in revenue and KRW 35.99 trillion in operating profit in 2020. That’s a 17 percent and 42 percent yearly increase in revenue and profit respectively.
Samsung continues to make truckloads of money amid global health crisis
Samsung made truckloads of money last year thanks to a new way of life amid the COVID-19 pandemic. The global health crisis has changed the way we work, learn, and go about several other aspects of our lives. There has been an increased demand for networking and cloud storage devices, as well as semiconductors. Samsung, being a top player in all of these industries, has cashed in on this increasing demand.
Additionally, Samsung is a frontrunner in the foldable smartphone market and it managed to score big there as well. Its latest clamshell folding model, the Galaxy Z Flip 3, sold strongly all over the world. Looking at all this, the Korean company could be set for another strong financial performance this year.
Samsung will publish the final earnings report for Q4 2021 later this month.