Samsung Electronics is the leading global consumer electronics brand, announced its fourth-quarter 2020 profit. In this period the company reported total revenue of KRW 61 trillion (around $55.8 billion) and KRW 9trillion operating profit for the fourth quarter of 2020.
Samsung has got this higher revenue because of higher consumer demand and its flexible global supply chain management.
- Consolidated revenue: approximately 61 trillion won
- Consolidated operating profit: approximately 9 trillion won
For 4Q results, sales and operating profit decreased by 8.9% and 27.13% compared to the previous year, while sales and operating profit increased by 1.87% and 25.7% compared to the same period last year.
During the epidemic, Samsung performed better than many large companies, and its stock price has risen by 40% since the beginning of 2020. In the early days, sales of memory chips used in data centers and consumer electronics soared by double digits, helping to support the company’s cash flow, but the company’s other key sectors—especially the smartphone business—sales performance did not good.
The provisional results are estimated based on the International Financial Reporting Standards (IFRS) adopted by Korea and are provided to help investors with convenience while the settlement of accounts has not yet been completed.
The above data is estimated based on the comprehensive income of K-IFRS. Please note that according to the Korean Data Disclosure Regulations, profit estimates cannot be expressed as interval values. To comply with this requirement, the above figures are the median of the estimated values of the following intervals.
- Earnings: 60-62 trillion won
- Operating profit: 8.9-9.1 trillion won
The above data is based on the K-IFRS combined profit estimates. According to K-IFRS, Samsung’s comprehensive data for the third quarter of 2020 and the fourth quarter of 2019 are as follows:
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