Samsung Electronics reported second-quarter results showing sharp year-on-year growth across profit and revenue. According to Sina Finance, the company said net profit for the quarter reached KRW 71.62 trillion, or about $49.6 billion, up 1,299.9% from a year earlier. In a regulatory filing, Samsung said operating profit for the April-to-June period rose 1,813.8% to KRW 89.49 trillion, while revenue increased 130% to KRW 171.49 trillion. The report said the results came in above analyst expectations. Samsung, described as one of the world’s largest suppliers of advanced high-bandwidth memory, or HBM, semiconductors, benefited from continued strong demand tied to artificial intelligence. That demand kept lifting the company’s memory chip business during the quarter.
Samsung Electronics reported second-quarter net profit of KRW 71.62 trillion, or about $49.6 billion, according to Sina Finance. The figure was up 1,299.9% from a year earlier.
In a regulatory filing, the company said operating profit for the April-to-June period climbed 1,813.8% year over year to KRW 89.49 trillion. Revenue rose 130% to KRW 171.49 trillion.
The report said the results topped analyst expectations. Samsung Electronics, one of the world’s largest suppliers of advanced high-bandwidth memory (HBM) semiconductors, was supported by continued strong demand from the artificial intelligence sector, which lifted its memory chip business.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
