SEOUL, July 5 (Xinhua) — South Korea’s tech giant Samsung Electronics saw its earnings surge in the second quarter, the company said Friday.
Preliminary operating profit reached 10.4 trillion won (7.5 billion U.S. dollars) in the April-June quarter, over 15 times larger than 670 billion won (486.1 million dollars) tallied in the same quarter of 2023.
It surpassed market expectations of about 8.3 trillion won (6 billion dollars) and was higher than an operating profit of 6.61 trillion won (4.8 billion dollars) in the previous quarter.
Preliminary revenue jumped 23.3 percent over the year to 74 trillion won (53.7 billion dollars) in the second quarter.
Net income and detailed earnings in each business unit will be unveiled later this month.
The better-than-expected earnings were mainly attributable to higher price and stronger demand for memory chips, caused by the fast-growing artificial intelligence market, market watchers said.
