Hardware

Samsung reports record results for Q1 2022

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April 28, 2022

Samsung Electronics reported record revenue and earnings for Q1 2022, according to an earnings release. Q1 highlights include:

• The company posted a record consolidated revenue for the third straight quarter of KRW 77.78 trillion ($61 billion) and operating profit of KRW 14.12 trillion (11 billion), a 51% increase from a year earlier.
• The device experience division posted the highest revenue since 2013 while the device solutions division reported a historical high for quarterly revenue.
• Samsung Display Corp. saw record first quarter results for mobile displays driven by strong sales at major smartphone customers, while for large displays the improvement of production yield of quantum-dot displays exceeded expectations.
• Samsung Display Corp. posted KRW 7.97 trillion ($6.2 billion) in consolidated revenue and KRW 1.09 trillion ($850 million) in operating profit for the first quarter.
• Revenue at the visual display business increased year-over-year with higher sales of premium, high-value products such as Neo QLED and Super Big TVs.
• The device solutions division posted KRW 26.87 trillion ($21 billion) in consolidated revenue and KRW 8.45 trillion ($6.6 billion) in operating profit in the first quarter.
• The visual display and digital appliances businesses posted KRW 15.47 trillion ($12 billion) in consolidated revenue and KRW 0.8 trillion ($63 million) in operating profit.

Shares traded at $57.75 today against a 52-week range of $44.20-$2,000.