Samsung Electronics' operating profit jumps 933% in first quarter, beats expectations
Publishing timestamp: 2024-04-29 22:32:10
Summary
Samsung Electronics reported a significant jump in operating profit in the first quarter, driven by strong sales of memory chips and flagship smartphones. Analysts see upside potential in the NAND flash memory business due to AI computing demand. The company expects continued growth in the second half of the year, despite geopolitical tensions and macroeconomic uncertainty. Samsung is also expanding its Galaxy AI features to drive further growth.
Sentiment: POSITIVE
Keywords: business news, asia economy, breaking news: technology, micron technology inc, technology, apple inc, earnings, taiwan semiconductor manufacturing co ltd,
Source: https://www.cnbc.com/2024/04/30/samsung-electronics-first-quarter-earnings.html