Samsung Electronics reported a significant increase in its financial performance for the first quarter, with a net profit of 6.62 trillion won, surpassing estimates of 5.63 trillion won. The company's operating profit soared nearly tenfold, up 932.8% year-over-year to approximately $4.8 billion, driven by a rebound in memory chip prices and strong demand for AI technologies. Revenue also increased by 12.81% year-over-year to about $52.3 billion. The surge in profits and revenue is attributed to the proliferation of AI technologies, which have boosted the markets for computer memory chips. Samsung expects this demand to continue in the second half of the year, further driving sales of memory chips and tech devices.
Samsung expects to begin supplying its most advanced memory chips for AI by the end of June. https://t.co/gAE5XEgy1F
Times of India @timesofindia: Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets. #industry40 #aistrategy #MachineLearning https://t.co/KQlE68YpWa
Samsung Electronics reported a 933% annual increase in first-quarter operating profits. https://t.co/pjACp7j1Yh
WATCH: Tech giant Samsung says AI to drive technology demand in second half after a strong first quarter https://t.co/aztRZeCPQ5 https://t.co/b7AHwqWOJK
Tech giant Samsung says AI to drive technology demand in second half after a strong first quarter https://t.co/BPIgqkl7gH https://t.co/Ly2RjvCK7W
Samsung forecast demand for AI would hold strong and tighten supply of some high-end chips. https://t.co/ni2DR7TGys
Samsung Profit Leaps in Earnings. AI Is Changing the Memory-Chip Industry. https://t.co/0xQNZsiJQm
JUST IN: Samsung Electronics reports 10-fold increase in operating profit in the last quarter
#Samsung Electronics has 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. #AI https://t.co/ZFZDQ1ncLM
Samsung Q1 24 results. "Our revenue came in at KRW 71.9 trillion, up 6% QoQ, thanks to strong sales of flagship Galaxy S24 smartphone series and the effects of higher ASPs in memory, led by improved memory market conditions" +1% today. https://t.co/rksYdVL5LL
Samsung made a huge leap in profit last quarter, reported AP. Samsung has revealed a remarkable tenfold surge in operating profit for the last quarter, propelled by the proliferation of AI technologies boosting the markets for computer memory chips. https://t.co/y9DUOc89jo
🤖🇰🇷 Samsung harnesses AI surge for stunning profit leap. South Korean giant leads the way in the memory chip boom, outpacing rivals, and fueling AI advancement. https://t.co/xsQ47GVyvw
Samsung is betting the future of its smartphone sales on Galaxy AI https://t.co/7FkWIyBoeW
WATCH: Samsung said it expected demand for artificial intelligence to hold strong in the second half, driving sales of memory chips and tech devices, as it reported a more than 10-fold rise in first-quarter operating profit https://t.co/aztRZeCPQ5 https://t.co/Y4KcPNCdKd
Samsung said it expected demand for artificial intelligence to hold strong in the second half, driving sales of memory chips and tech devices, as it reported a more than 10-fold rise in first-quarter operating profit https://t.co/BPIgqkl7gH https://t.co/1ktdSpRnGq
Here’s another thing AI can do: return Samsung’s memory biz to profit https://t.co/KpRqP1p9bG
Samsung Profit Soars Tenfold As Chip Demand Rebounds Amid AI Boom https://t.co/WTpfuLxbPp https://t.co/2sfu3LBzmn
Samsung says AI to drive technology demand in second half #Samsung #GalaxyAI https://t.co/W4eW4SWA4s
Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets https://t.co/u4MA2lamO1
Samsung reports huge jump in profit as AI drives rebound in memory-chip market https://t.co/PxQXs7jbkl
Samsung Electronics Q1 operating profits rise nearly tenfold year-on-year -- a 931.8% increase -- amid recovering chip prices and growing demand https://t.co/3nszPbf9WF #HPC #AI #HBM
BREAKING: Samsung's chip unit returned to profit in Q1 on strong AI demand. https://t.co/HHZFQw9XJw
Samsung delivers an almost tenfold increase in profits on the back of AI chip demand https://t.co/5yMENXU7Kq
Samsung’s Net Profit Quadruples as Chip Business Rebounds https://t.co/Z7tAqhjjba
Samsung Electronics expected demand for AI to hold strong in the second half, driving sales of memory chips and tech devices, as it reported a more than 10-fold rise in first-quarter operating profit. The South Korean company's memory chip sales nearly doubled in the first…
Samsung Electronics’ operating profit in the 1st quarter soared 10-fold as memory chip sales nearly doubled over the same time last year, Reuters reports, adding the South Korean giant expects AI demand to remain strong in the 2nd half, further driving memory chip sales. 1/2 $MU…
Samsung says AI to drive technology demand in second half https://t.co/0AeC9OTwpK https://t.co/2LVsvXiyZU
Samsung Q1: revenue up 12.81% YoY to ~$52.3B, vs. ~$51.6B est., and operating profit up 932.8% YoY to ~$4.8B, vs. ~$4.3B est., as memory chip prices rebounded (@sheilachiang / CNBC) https://t.co/nVtITbWiBx 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/zhb6w7yliB
Samsung says Q1 operating profits soar nearly tenfold on-year https://t.co/ndrkn9BWSq
Samsung’s Profit Surges After AI Boom Reverses Chip Losses - BBG https://t.co/wLMoeggHqx
Samsung’s Profit Surges After AI Boom Reverses Chip Losses https://t.co/2TSHr0lFIh
Samsung Electronics' operating profit jumps 932.8% in first quarter, beats expectations https://t.co/v6tScoQrwt
Samsung crushes earnings: 1Q net 6.62 trillion won vs est 5.63 trillion won
Samsung wants your videos to take advantage of Galaxy AI https://t.co/LcLnuhPbXu