• 13/06/2024 03:25

Samsung's profit increased 10 times

Samsung's first-quarter operating profit will rise more than 10-fold, beating market expectations, as chip prices begin to recover from a major slump thanks to the artificial intelligence boom. Reuters writes about this.

Samsung's profit increased 10 times

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It is noted that the world's largest manufacturer of memory chips and televisions estimated the growth of its operating profit to 4. $89 billion in the quarter. That's up 931% from 640 billion won a year earlier and would be Samsung's highest operating profit since the third quarter of 2022.

But revenue fell short of expectations, likely up 11% year-on-year last year to 71 trillion won, below LSEG SmartEstimate of 72.3 trillion won.

“As revenue was largely flat and operating profit exceeded expectations, NAND flash chip inventory estimates may , improved. Demand for NAND has improved, which could also improve margins,” said Park Soon-soon, an analyst at Korea Investor Relations Service.


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