Samsung Electronics (005930 KS) - Q1 2026 (KRW): Net 47.1tln (exp. 38.3tln), Operating profit 57.2tln (exp. 57.2tln), Revenue 133.9tln (exp. 117.5tln), chip business aided by HBM4 and SOCAMM2 sales to Nvidia
- Q1 chip sales 81.7tln (exp. 69.5tln, prev. 25.1tln Y/Y)
- Q1 chip operating profit 53.7tln (exp. 40.4tln, prev. 1.1tln Y/Y)
- Q1 mobile/networks sales 38.1tln (exp. 35.4tln)
Commentary:
- Expects memory demand to accelerate in Q2.
- Q2 revenue in mobile business is expected to decline.
- Agentic AI to accelerate growth in demand in H2.
Context
Samsung Electronics has reported a strong Q1 2026 earnings with net profit significantly surpassing expectations, largely driven by robust chip sales benefiting from HBM4 and SOCAMM2 demand from Nvidia. While the chip division performed exceptionally well, the outlook for Q2 indicates potential declines in mobile revenue, which may pose a headwind for the company in the near term. Market implications may include a positive reaction to the strong earnings but a cautious sentiment regarding future mobile sales amidst changing demand dynamics.
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