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Samsung operating profit up 1,800% in second quarter on AI boom
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Yahoo News Singapore - Latest News & Headlines
South Korean technology giant Samsung Electronics posted on Thursday a massive 19-fold jump in second-quarter operating profit from last year, buoyed by frenzied demand for memory chips used in AI data centres.
April-June operating profit came to 89.5 trillion won ($62 billion) -- up more than 1,800 percent on-year, Samsung said.
Advertisement AdvertisementAdvertisement AdvertisementThe company posted revenue of 171.5 trillion won, up 130 percent from a year earlier.
Net profit soared nearly 1,300 percent on-year to 71.6 trillion won.
Advertisement AdvertisementAdvertisement AdvertisementSK hynix's second-quarter operating profit and revenue posted Wednesday came in below expectations, despite being massively higher than a year ago.