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[시사저널e=이승용 기자] Samsung Electronics showed an ‘earnings surprise’ in its first quarter earnings announcement this year, but its stock price actually fell after the earnings announcement.
While the general analysis is that concerns about tightening in the US are being reflected in the stock price, some are predicting that Samsung Electronics’ earnings growth could slow in the second quarter of this year.
According to the Korea Exchange on the 6th, the stock price of Samsung Electronics rose 2.55% from 82,400 won last week to 84,500 won this week.
The stock price of Samsung Electronics, which was 66,900 won at the end of October last year, has risen steadily since November last year until recently. Foreigners drove stock prices up. Foreigners have bought more than 10 trillion won in Samsung Electronics stocks from November last year to this month. On the other hand, net individuals sold more than 10 trillion won.
There was much analysis that the rise in the stock price of Samsung Electronics reflected expectations for a recovery in the semiconductor industry. The ‘100,000 Electronics’ craze has resurfaced in securities research centers, raising the target stock price of Samsung Electronics to over 100,000 won. Accordingly, expectations were high ahead of this year’s first quarter earnings announcement scheduled for the 5th.
Before the market opened on the 5th, Samsung Electronics announced that it had achieved KRW 71 trillion in sales and KRW 6.6 trillion in operating profit as a result of its preliminary performance for the first quarter of this year. Compared to the first quarter of last year, sales increased by 11.37% and operating profit by 931.25%, and compared to the previous quarter, the fourth quarter of last year, sales increased by 4.75% and operating profit by 134.04%.
Prior to the earnings announcement, the recent estimate from securities firms for Samsung Electronics’ first quarter operating profit was around 5 trillion won. It was a surprise return that exceeded the original expectations of the securities company.
However, Samsung Electronics’ stock price fell on the 5th after the earnings announcement. It is analyzed that the increase in the US stock market was mainly influenced by the statement of the Governor of the Federal Reserve of Minneapolis Neel Kashkari at dawn, “If inflation continues the same way, it raises questions about whether it is necessary to cut interest rates.”
Samsung Electronics did not release specific performance by business division. Estimates of performance by sector analyzed by securities firms are somewhat mixed.
Meritz Securities’ semiconductor division (DS) is KRW 1.6 trillion, smartphone network division (MX) is KRW 3.9 trillion, video (DV) / home appliances is KRW 500 billion, Samsung Display division (SDC) is KRW 400 billion, and Harman is KRW 500 billion, KRW 200 billion. It was analyzed that it would have made an operating profit of 100 million won.
Some predict that Samsung Electronics’ earnings growth will slow somewhat in the second quarter of this year.
Kim Seon-woo, a researcher at Meritz Securities, said, “Profit growth is expected in the second quarter based on improved performance in the semiconductor division, but the amount is expected to be largely offset by the slowdown in MX performance. ” He added, “Specifically, the memory operating profit of 2.5 trillion earned in the first quarter was due to one-off factors. “As it is understood that approximately KRW 700 billion (including KRW 1.5 trillion of reversal of provisions for inventory valuation losses) has been reflected, the company’s strategy of negotiating additional selling prices and diversifying through the expansion of HBM sales is expected to be important to improve performance in the second quarter,” he analyzed.
Meanwhile, on the KOSDAQ this week, Ecopro BM managed to secure first place in market capitalization, followed by Ecopro, HLB, and Alteogen. Enchem rose from 6th place last week to 5th place.
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