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:
JAN MOIR: Why JK Rowling SHOULDN'T forgive the weaselly bandQueen Maxima of the Netherlands wows in blue as she meets students in AmsterdamFormer drug dealer given second chance as dealer of preRICHARD EDEN: RevealedWill polo's 'David Beckham' and his ultraQueen Maxima of the Netherlands wows in blue as she meets students in AmsterdamU.S. dispatches general in charge of the Middle East to FOscars 2024: The Biggest Moments from the 96th Academy Awards'Influencer' pup living in the lap of luxury travels the world in fiveQueen Maxima of the Netherlands wows in blue as she meets students in Amsterdam
1.5699s , 6498.2265625 kb
Copyright © 2024 Powered by Samsung reports 10 ,Global Glossary news portal