Reported about 1 year ago
Benefiting from the AI trend driving up memory chip prices, South Korean tech giant Samsung reported its preliminary financial results for the second quarter, with profits soaring nearly 15 times, marking a new quarterly high since the third quarter of 2022. Boosted by Samsung's strong performance, its stock rose by 2.96% to 87,100 Korean won, reaching a new high in over three years. Samsung's second-quarter operating profit reached 10.4 trillion won, a 14.52-fold increase from the same period last year, outperforming market estimates. The company's revenue is expected to surge by 23%, reaching 73 to 75 trillion won, in line with market expectations.
Source: YAHOO