(CNBC) Samsung Electronics on Friday said it expects to post a 931% increase in first quarter operating profit, as chip prices rebound. Operating profit in the January-March quarter likely rose to 6.6 trillion Korean won ($4.89 billion), up 931% from a year ago, according to a preliminary statement. Profit in the first quarter of 2023 was 0.64 trillion won. The profit guidance for the first quarter of 2024 exceeds LSEG’s estimate of 5.24 trillion won.
Samsung expects first-quarter profit to soar 931% as memory chip prices rebound
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