Samsung Electronics record operating profit surplus for first time in five quarters

삼성전자, 1분기 영업익 6.6조원 5분기 만에 흑자 전환

Samsung Electronics has recorded an earnings surprise in the first quarter of this year due to its recovery in the semiconductor sector.
The firm has been reported to earn an operating profit surplus for the the first time in five quarters.
Park Kun-woo has the details.

South Korean tech giant Samsung Electronics saw a surplus in its operating profit in the first quarter for the first time in five quarters.
According to Samsung on Tuesday, the company's operating profit in the first quarter of this year was 6-point-6-6 trillion won, which is over 4-point-7 billion U.S. dollars.
That's an on-year increase of more than 9-hundred-31 percent.
And that's an even larger profit than what was earned during the whole of 2023.
Higher costs for DRAM and NAND Flash, along with increased demand for high-valued memory chips including HBM and DDR5 and strong sales of its first AI smartphone, the Galaxy S24, led to its higher-than-expected jump in profit.
Revenue also rose by nearly 13 percent to around 71-point-9 trillion won or 52-point-2 billion dollars.
That was also the first time in five quarters that sales were back above the 70 trillion won level.
In detail, the Device Solution division managing semiconductors saw an operating profit of over 1-point-9 trillion won or 1-point-3-8 billion dollars during the first three months of 2023.
While the division saw a yearly deficit of around 15 trillion won last year, it recorded a surplus in quarter one for the first time in five quarters.
The Mobile eXperience division saw stronger sales and operating profit as well, led by the Galaxy S24 smartphone.
Park Kun-woo, Arirang News.

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2024-04-30, 12:00 (KST)