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First Quarter Profit

All articles tagged with #first quarter profit

finance1 year ago•1 min saved

"Norway's Sovereign Wealth Fund Rakes in $110 Billion Q1 Profit Amid Tech Stock Surge"

Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, reported a first-quarter profit of $110 billion, driven by strong returns on its investments in technology stocks. The fund's equity investments yielded 9.1%, while fixed income and real estate investments saw negative returns. Established in the 1990s to invest surplus revenues from Norway's oil and gas sector, the fund has investments in over 8,800 companies across 70 countries. Despite concerns about the performance of tech giants like Apple and Tesla, the fund's deputy CEO noted a more nuanced market outlook for these companies.

via CNBC|

#finance #first-quarter-profit #investments

businesstechnology1 year ago•3 min saved

Samsung's First-Quarter Profit Soars 10-Fold on Memory Chip Price Recovery

Samsung Electronics estimates a more than 10-fold increase in first-quarter operating profit, surpassing market expectations, as chip prices rebound, but its shares drop as investors await updates on its memory chip business. The company's estimated operating profit of 6.6 trillion won beats expectations, while revenue misses estimates. The chip division is expected to report its first quarterly profit in five quarters, with memory chip prices rising and a positive response to the new Galaxy S24 smartphones likely contributing to solid profits in the mobile business.

via Reuters|

#businesstechnology #chip-prices #first-quarter-profit

businesstechnology1 year ago•2 min saved

"Samsung's First-Quarter Profit Soars 10-Fold on Chip Price Recovery"

Samsung Electronics expects its first-quarter operating profit to increase more than 10-fold, surpassing market expectations, due to a rebound in chip prices driven by the artificial intelligence boom. The estimated operating profit of 6.6 trillion won ($4.89 billion) exceeded forecasts, while revenue fell slightly short. The company's chip division is anticipated to report its first quarterly profit in five quarters, with memory chip prices rising significantly. Additionally, the launch of the new flagship Galaxy S24 smartphones contributed to a solid profit in the mobile business.

via Yahoo Finance|

#artificial-intelligence #businesstechnology #chip-prices

business2 years ago•0 min saved

Taiwan Semi Beats Earnings Expectations, Stock Rises.

Taiwan Semiconductor Manufacturing, the world's largest contract chip maker, reported a rise in net profit for Q1 2023 but warned of a revenue slowdown in Q2, indicating a potentially prolonged weakness in the semiconductor industry.

via Barron's|

#business #chip-industry #first-quarter-profit

business2 years ago•1 min saved

Samsung's Q1 profit drops 96% due to chip glut and tech slump.

Samsung Electronics reported a likely 96% plunge in first-quarter operating profit due to a chip glut and slowing customer purchasing sentiment amid a global economic slowdown. The company estimated its operating profit fell to 600 billion won ($455.50 million) in January-March, from 14.12 trillion won a year earlier. The profit fell short of analysts' forecasts, and revenue likely fell 19% from the same period a year earlier to 63 trillion won.

via CNBC|

#business #chip-glut #first-quarter-profit