Stefani
Member
Samsung electronics Co. on Wednesday released its first-quarter earnings for 2020. Samsung's first-quarter revenue reached 55.3 trillion won ($45 billion), up 5.61 percent from a year earlier, the results showed. Operating profit reached 6.45 trillion won ($5.2 billion), up 3.43% from a year earlier. Net profit fell to 4.88 trillion won ($3.9 billion), down 3.15 percent from a year earlier.
Samsung's first-quarter revenue was 55.3 trillion won ($45 billion), down 7.6% from the previous quarter, mainly due to weak seasonal revenue in its display business and consumer electronics division, partly due to an outbreak of novel coronavirus. Samsung's operating profit rose 5.61% from a year earlier as demand for servers and mobile components increased.
Samsung's first-quarter operating profit fell 0.7 trillion won ($570 million) from the previous quarter, hurt by the same factors that dragged down revenue. Operating profit rose 0.2 trillion won ($160 million) from a year ago as the company improved its product portfolio in the mobile business and further diversified its customer base in the mobile OLED sector.
Samsung's first-quarter revenue was 55.3 trillion won ($45 billion), down 7.6% from the previous quarter, mainly due to weak seasonal revenue in its display business and consumer electronics division, partly due to an outbreak of novel coronavirus. Samsung's operating profit rose 5.61% from a year earlier as demand for servers and mobile components increased.
Samsung's first-quarter operating profit fell 0.7 trillion won ($570 million) from the previous quarter, hurt by the same factors that dragged down revenue. Operating profit rose 0.2 trillion won ($160 million) from a year ago as the company improved its product portfolio in the mobile business and further diversified its customer base in the mobile OLED sector.
