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.
Related articles:
Related suggestion:
Kolkata breaks 11Three groups are suing New Jersey to block an offshore wind farmAnya TaylorFrench cyberwarriors ready to test their defense against hackers and malware during the OlympicsA royally starRublev beats Fritz to reach Madrid Open final against AugerThree groups are suing New Jersey to block an offshore wind farmTight league title races play out across European soccer. Belgium aims for more epic lastPip Edwards looks elegant in a black gown as she celebrates chef Nobu Matsuhisa in SydneyKenya president postpones reopening of schools as flood
2.3468s , 6498.78125 kb
Copyright © 2024 Powered by Samsung reports 10 ,Stellar Station news portal