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Samsung Electronics Expects 7x Surge in 1Q Profit on Strong AI Chip Demand Driving Prices Higher
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Samsung Electronics said on Tuesday that its first-quarter profit is expected to exceed its full-year profit of the previous year, mainly driven by stronger-than-expected demand for artificial intelligence infrastructure, which boosted chip prices amid tighter supply. As the worlds largest memory chip maker, Samsung Electronics forecasts operating profit of KRW57.2 trillion (USD37.92 billion) for 1QYY, compared with market expectations of KRW40.6 trillion, and more than seven times higher than KRW6.69 trillion in the same period last year. The company also expects quarterly revenue to rise 68% to KRW133 trillion. Samsung will release detailed first-quarter earnings results on April 30. (to/s) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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