Samsung today released its first-quarter financial report for the 2021 fiscal year ending March 31. According to the financial report, Samsung’s revenue in the first quarter was 65.39 trillion won (approximately US$58.924 billion), an increase of 18.19% from 55.33 trillion won in the same period last year; the net profit attributable to shareholders of Samsung’s parent company was 7.09 trillion won (approximately US$6.392 billion), an increase of 45.06% from 4.89 trillion won in the same period last year.
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Samsung Electronics’ first-quarter earnings exceeded market expectations because it’s mobile and home appliance businesses offset the relatively weak performance of the semiconductor sector. Samsung said that its optimistic performance came from the soaring sales of smartphones after the launch of new phones, and its chip business was affected by the company’s semiconductor factory in Austin, Texas, where production was suspended for a month. There was a severe winter in February. The storm caused a power outage.
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