Samsung Q3 2021 earnings guidance

A South Korean flag, left, and Samsung Electronics flag fly exterior the corporate’s headquarters in Seoul, South Korea, on July 5, 2019.

Jean Chung | Bloomberg | Getty Photographs

Samsung Electronics shares edged increased on Friday after the corporate stated its working revenue for the quarter that resulted in September was possible 28% increased than a yr in the past at 15.8 trillion Korean received ($13.26 billion).

That is set to be Samsung’s greatest quarterly revenue in three years — for the reason that third quarter of 2018 when Samsung posted a profit of more than 17.5 trillion won.

Nonetheless, Friday’s determine fell under analysts’ estimates of 16.1 trillion received, in accordance with Refinitiv SmartEstimate.

Samsung shares rose greater than 1% in early commerce, however finally pared a few of these positive factors to commerce at 0.42% increased.

Consolidated gross sales for the quarter possible rose to a report excessive of 73 trillion received — up 9% from a yr in the past.

The South Korean tech big didn’t break down how every enterprise unit carried out, together with its major profit-making semiconductor enterprise.

However operations on the world’s largest smartphone and chipmaker have been affected by a global chip shortage and the coronavirus pandemic that shuttered some of its factories around the world.

“Each income and working revenue [are] decrease than our estimate, and market estimate,” stated SK Kim, government director and senior analyst at Daiwa Capital Markets.

Samsung was partially affected by the semiconductor scarcity, particularly in its smartphone enterprise, and certain confronted some logistics issues for its client electronics unit, Kim stated Friday on CNBC’s “Squawk Box Asia.” However rising semiconductor costs possible had a optimistic affect on Samsung’s parts enterprise, he added.

Daiwa has a worth goal of 110,000 received (about $92) a share for Samsung, implying greater than 53% upside from Thursday’s shut, because it expects increased semiconductor costs to drive the tech firm’s earnings.

Chip shortage is beginning to affect the smartphone industry the place the likes of Samsung and Apple had to date been shielded from the fallout by stockpiling crucial parts like reminiscence chips.

Late final month, Counterpoint Research lowered its smartphone shipment forecasts for the second half of 2021, saying that some smartphone makers are struggling to obtain all of the parts they ordered to make smartphones.

Full outcomes for the September quarter are due later this month.

Samsung shares are down greater than 11% year-to-date. | Samsung Q3 2021 earnings steerage


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