Samsung Profit Beats Estimates on Steady Chip Demand
- Company saw strong demand for chips used in servers, PCs
- Operating profit was boosted by 300 billion won due to dollar
Samsung Electronics Co. reported a surge in first-quarter profit on strong sales of memory chips and premium smartphones, but cautioned of risks ahead from inflation and geopolitical uncertainty.
The South Korean giant’s net income increased more than 50% to 11.13 trillion won ($8.8 billion) in the three months ended March. Analysts predicted 10.14 trillion won on average, according to estimates compiled by Bloomberg.