Samsung Passes Intel as It Posts Record Income, Splits Stock
- Semiconductor business now pulls in more revenue than Intel
- Company plans 50-to-1 stock split, posts record net income
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Samsung Electronics Co. is on a roll.
The maker of smartphones, screens and consumer electronics reported record quarterly profit and disclosed numbers showing that it’s chip business pulls in more revenue than Intel Corp. The Suwon, South Korea-based company took the opportunity to unveil a 50-to-1 stock split, which sent its shares surging.