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:
Who is Britney Spears' 'boyfriend' Paul Soliz? Inside the singer's turbulent relationship with exBangladesh wins toss and bowls against Zimbabwe in Twenty20 openerWant to find out how good a hotel can be? Inside the hyperPanama Supreme Court rejects challenge to candidacy of presidential frontrunner days before vote2 Nigerian military personnel will face court martial over a drone attack that killed 85 villagersKlopp says he has 'no problem' with Salah after touchline spatArgentina's slump is forgotten after NZ is blown away at Singapore SevensNOT REAL NEWS: A look at what didn't happen this weekTrump hush money trial: Testimony resumes after jurors hear crucial Michael Cohen recordingWho is Britney Spears' 'boyfriend' Paul Soliz? Inside the singer's turbulent relationship with ex
2.5795s , 6515.4296875 kb
Copyright © 2024 Powered by Samsung reports 10 ,Stellar Stories news portal