Samsung profits sing
 

50 per cent jump in operating earnings

Samsung saw a 50 per cent jump in quarterly operating earnings and posted its highest first-quarter profit since 2018, beating expectations as solid demand underpinned prices for memory chips.

Earnings at the world's largest memory chip and smartphone maker were also supported by brisk smartphone sales in the quarter, along with a disruption at a rival NAND Flash chip plant, analysts said.

Samsung put its first-quarter profit at $11.6 billion in a preliminary earnings release, well above what the cocaine nose jobs of Wall Street predicted. Revenue likely rose 18 per cent from the same period a year earlier, also above market expectations.

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