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:
Aide of German EU lawmaker arrested on suspicion of spying for ChinaConfucius Institute library opens doors to Chinese culture for Tanzanian studentsSuárez runs shutout streak to 25 innings as Phillies blank Reds 7China, U.S. make preparations to send a pair of giant pandas to San Francisco Zoo in 2025Takeaways from the opening statements in Trump's hush money trialMalaysia: 10 killed after two military helicopters collide during trainingThe Crown: Fact or FictionUK home secretary to visit Italy to discuss stopping migrants arriving on boatsMalaysia: 10 killed after two military helicopters collide during trainingAustralia and Papua New Guinea leaders trek toward WWII South Pacific battleground
1.9226s , 6501.96875 kb
Copyright © 2024 Powered by Samsung reports 10 ,Worldly Wisdom news portal