Samsung reports 10
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
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
NEW YORK (AP) — Saudi Arabia’s move into tennis will now include a multiyear deal to sponsor the WTA2024-05-2170 countries, regions to participate in int'l travel trade fair in SW China
China International Travel Mart 2023 to be held in southwest China's Yunnan Province from Nov. 12024-05-21Beijing's Yanqing district ready for Labor Day travel rush
Yanqing in spring. [photo provided to China.org.cn]As the Labor Day holiday is around the corner, no2024-05-21Beijing's Yanqing district ready for Labor Day travel rush
Yanqing in spring. [photo provided to China.org.cn]As the Labor Day holiday is around the corner, no2024-05-21With Djokovic awaiting the winner, Murray trails Hanfmann at rain
GENEVA (AP) — Needing a win to face Novak Djokovic next at the Geneva Open, Andy Murray was saved by2024-05-21Fire rages through Copenhagen's historic stock exchange, spire collapses
COPENHAGEN, Denmark (AP) — A fire raged through one of Copenhagen’s oldest buildings on Tuesday, cau2024-05-21
atest comment