Samsung says 2021 Q1 profits likely jumped 44%, despite winter storm setback cnn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnn.com Daily Mail and Mail on Sunday newspapers.
Samsung expects to have pulled off a strong first quarter, even as one of its chipmaking facilities was temporarily shut by a brutal US winter storm earlier this year.
The South Korean conglomerate said Wednesday that it likely made about 9.3 trillion Korean won ($8.3 billion) in operating profit from January to March, marking a 44% jump compared to the same period last year.
It also expected sales to have climbed about 17% year-on-year, to approximately 65 trillion Korean won ($58.2 billion). The preliminary results were roughly in line with estimates forecast by analysts polled by data provider Refinitiv.
Samsung s semiconductor plant in Austin, Texas was forced to shut down in February after the state was hit by widespread power outages related to a massive winter storm, but reached production close to normal levels as of end of March, according to a statement from the company.
Samsung says profits likely jumped 44% despite chip supply problems ktvz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ktvz.com Daily Mail and Mail on Sunday newspapers.