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Samsung flags tenfold jump in QI profit as chip prices rally
The Straits Times
|April 06, 2024
Top-earning chip division set to report first profit in five quarters amid AI boom
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Samsung Electronics estimated on April 5 that its first-quarter operating profit would rise more than tenfold, topping market expectations, as chip prices have started to rebound from a severe downturn, thanks to a boom in artificial intelligence.
But the guidance was not enough to cheer investors who sent Samsung shares down 0.9 per cent by the end of trading, in line with a 1 per cent drop in the wider South Korean market, as they await updates on progress in its high-end memory chip business that has been lagging behind rivals.
The world's largest memory chip and TV maker estimated that its operating profit rose to a better than expected 6.6 trillion won (S$6.58 billion) in the quarter ended March 31, beating a 5.7 trillion won LSEG SmartEstimate.
Dit verhaal komt uit de April 06, 2024-editie van The Straits Times.
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