Friday, 24 March, 2023

Samsung beats Q1 estimates on back of chip demand

<p>Samsung Electronics has released their Q1 earnings report which said that the Korean giant generated revenue of about $63.1B and profit of about $11.6B. These numbers beat the earnings from Q1 2021 which stood at $53.6B and $7.6B respectively. The Q1 2022 results are also higher than estimates by Bloomberg&rsquo;s analysts which said Samsung would make around $10.9B in profits. The total revenue was also higher than the predicted figure of $61.4B.</p>