SEOUL : Samsung Electronics Co Ltd on Thursday reported a 50per cent jump in quarterly operating earnings to post its highest first-quarter profit since 2018, as solid demand underpinned prices for memory chips.
Revenue likely rose 18per cent from the same period a year earlier to a record 77 trillion won, the company said in a short preliminary earnings release, also above market expectations.Although chip prices dipped in the first quarter, analysts said they had held up better than expected due to solid demand as well as cautious investment spending by chipmakers and limited capacity expansion. This buoyed Samsung's chip earnings which make up about half of its total profits.
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »