Samsung reports 10
Time:2024-05-22 09:55:44 Source:entertainmentViews(143)
SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips.
The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at 6.6 trillion won ($4.8 billion), up from the 640 billion won ($465 million) it earned during the same period last year.
Revenue rose by nearly 13% to 71.9 trillion won ($52 billion), driven by higher prices for memory chips and robust sales of its flagship Galaxy S24 smartphones, the company said.
The company earned 1.91 trillion won ($1.38 billion) in operating profit from its semiconductor business, marking the division’s first quarterly profit since the fourth quarter of 2022, as the chip market continues to recover from a cyclical slump deepened by the COVID-19 pandemic and global trade tensions.
Previous:Hundreds of hostages, mostly women and children, are rescued from Boko Haram extremists in Nigeria
Next:EU seals a deal on using profits from frozen Russian assets to help arm Ukraine
You may also like
- UN maritime tribunal says countries are legally required to reduce greenhouse gas pollution
- Israel Gaza: Journalists injured in al
- FBI fears 'coordinated attack' on US homeland
- Ukraine's Zelensky warns of dwindling air defence missiles
- Kentucky congressman expects no voter fallout for his role in attempt to oust House speaker
- HK gov't declines to say how much funding it gave for 'Chubby Hearts'
- Pair arrested for alleged theft of $20,000 worth of Lego
- Reserve Bank holds OCR at 5.5 percent
- Canada beats Czechs 4