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Samsung's first-quarter sales far exceeded expectations, with profits soaring eightfold, and AI chip sales unaffected by the cloud of war.
BlockBeats message, April 7, Samsung Electronics announced first-quarter sales of 133.00 trillion won, with analysts expecting 116.81 trillion won. First-quarter operating profit was 57.20 trillion won, with analysts expected 39.28 trillion won.
Samsung’s quarterly profit recorded an eightfold increase above expectations, driven mainly by strong demand for artificial intelligence (AI) and data center storage chips. Later in April, the company will release full financial statements, including net profit and details by each division.
As of the time of publication, Samsung shares rose 4.5% at the open of trading on the Korean stock market.