Samsung said on Thursday that it has recorded 77 trillion won in sales and 14.1 trillion won in operating profit for the first quarter this year.
It is a rise of 17.75% and 50.32%, respectively, from 2021. Analysts said the company enjoyed strong demand for its memory chips and smartphones during the quarter.
The revenue is the highest quarterly figure for the South Korean tech giant to date. It is also the highest revenue figure for the first quarter.
The first quarter is traditionally a weak season for Samsung as there is a low demand for electronics and the production rate for chips is dropped.
The company’s earnings beat South Korean analysts’ consensus of 75. trillion won in revenue and 13 trillion won in operating profit.
Hyundai Motor Securities analyst Greg Roh said shipment drop expected for memory chips DRAM and NAND flash were lower than expected.
Smartphones sales that dropped in Russia and Ukrainian were also offset by increases in other countries, Roh noted.