4/28, 1:53 AM (Source: TeleTrader)
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Samsung's Q1 profits rise 51% to hit $11.1B

Samsung SDI Co. revealed on Thursday that its operating profits for the first quarter of 2022 rose 51% year-on-year to reach 14.1 trillion Korean won (~$11.1 billion). The company's sales also increased 18.9% compared to the first three months of 2021 to hit 77.7 trillion won (~$61.5 billion).

Samsung's Q1 net profit amounted to 11.3 trillion won (~$8.9 billion), while its basic earnings per share rose by 56.9% on a yearly basis to land at 1,638 Korean won (~$1.29).

"While uncertainties related to the macroeconomic environment and geopolitical issues are likely to persist, the company will prioritize increasing the portion of advanced processes for components," Samsung noted in an official statement.

Baha Breaking News (BBN) / SP