Samsung Electronics Q1 operating profit rises 51% on solid chip demand

Operating profit rose to 14.1 trillion won ($11.1 billion) for the quarter ended March 31 from 9.38 trillion won a year earlier, the world's top maker of memory chips said. That was in line with the company's own estimate of 14.1 trillion won earlier this month.

Reuters

April 28, 2022 / 06:07 AM IST

The company remains optimistic for the fourth quarter

Samsung Electronics Co Ltd reported a 51% rise in January-March profit on Thursday, posting its highest first-quarter profit since 2018 as robust data centre demand for high-margin memory chips underpinned prices.

Operating profit rose to 14.1 trillion won ($11.1 billion) for the quarter ended March 31 from 9.38 trillion won a year earlier, the world's top maker of memory chips said. That was in line with the company's own estimate of 14.1 trillion won earlier this month.

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Reuters

Tags: #Profit #Samsung Electronics #World News

first published: Apr 28, 2022 06:07 am