SEOUL, South Korea (AP) — Samsung Electronics reported Wednesday a sharp increase in consolidated revenue for the first quarter thanks to strong sales of its new smartphones, but its semiconductor business suffered a setback.
The South Korean semiconductor and smartphone giant said in a statement that it posted 79.14 trillion won ($56 billion) in consolidated revenue for the January-March quarter, calling it an all-time quarterly high. It said its operating profit rose to 6.7 trillion won ($4.7 billion), up from 6.61 trillion won ($4.6 billion) in the same period last year.
Samsung attributed the results to strong sales of its flagship Galaxy S25 smartphone and other high-value-added products.
However, the operating profit of the company's semiconductor business fell to 1.1 trillion won ($774 million) from 1.91 trillion won ($1.3 billion) in the corresponding quarter last year.
The company said its profits were squeezed by falling average sale prices, as well as reduced demand for high-bandwidth memory as customers wait for the release of next-generation memory chips.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
