financetom
Business
financetom
/
Business
/
Samsung posts weaker profit recovery as it misses out on AI boom
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Samsung posts weaker profit recovery as it misses out on AI boom
Nov 3, 2024 3:20 PM

SEOUL, Oct 31 (Reuters) - Samsung Electronics ( SSNLF )

said its third-quarter profit jumped from a year

earlier, but the pace of recovery weakened from the prior

quarter as it struggles to cash in on the AI boom that has

benefited chip rivals like TSMC and SK Hynix ( HXSCF )

.

The world's biggest maker of memory chips, smartphones and

TVs posted on Thursday an operating profit of 9.2 trillion won

in the July to September period, compared with 2.4 trillion won

a year earlier and 10.4 trillion won the previous quarter.

The third-quarter result was slightly above Samsung's

preliminary estimate of 9.1 trillion won flagged earlier this

month, which was below market expectations at the time.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Mitek Systems Integrates With Ping Identity System to Provide Identity Verification
Mitek Systems Integrates With Ping Identity System to Provide Identity Verification
Mar 12, 2026
09:11 AM EDT, 03/12/2026 (MT Newswires) -- Mitek Systems ( MITK ) said Thursday it is collaborating with Ping Identity with an integration that leverages its no-code identity orchestration service PingOne DaVinci. Financial terms of the collaboration were not provided. Ping customers will be able to use Mitek's ( MITK ) identity verification capabilities for improved detection of fraud tactics...
Esquire Financial to Acquire Signature Bancorp
Esquire Financial to Acquire Signature Bancorp
Mar 12, 2026
09:14 AM EDT, 03/12/2026 (MT Newswires) -- Esquire Financial ( ESQ ) said Thursday it has agreed to acquire Signature Bancorp. Under the terms of the deal, shareholders of Signature will receive a fixed exchange ratio of 2.63 shares of Esquire for each Signature share they held. The per-share value equates to $260.48 for Signature shareholders, or about $348.4 million...
Lululemon Founder Wilson Says Refreshed Board Needed Ahead of CEO Selection
Lululemon Founder Wilson Says Refreshed Board Needed Ahead of CEO Selection
Mar 12, 2026
09:12 AM EDT, 03/12/2026 (MT Newswires) -- Lululemon Athletica ( LULU ) founder and shareholder Chip Wilson said Thursday that meaningful change in the board is needed before a new chief executive officer is selected. In a letter to prospective CEO candidates, Wilson said the lack of a succession plan, as shown by three CEO departures without a successor, could...
NatGold Digital Signs $20M Definitive Agreement to Acquire Historic Idaho Gold Project, Targeting 73% Token Minting Share
NatGold Digital Signs $20M Definitive Agreement to Acquire Historic Idaho Gold Project, Targeting 73% Token Minting Share
Mar 12, 2026
MIAMI, March 12, 2026 /PRNewswire/ -- NatGold Digital Ltd. (NatGold or the Company) today announced that it has signed a Definitive Agreement with Sovereon Gold Corp. granting NatGold the exclusive right to acquire a 100% undivided interest in five patented mining claims comprising the Friday Gold Project, located in Idaho County, Idaho, USA, within the historic Orogrande Mining District.  ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved