Samsung posts a 15-fold increase in operating profits in last quarter

SEOUL, South Korea (AP) — Samsung Electronics Co. has reported a 15-fold increase in its operating profit for the second quarter this year. The South Korean semiconductor and smartphone giant said Wednesday that its operating profit for the April-June quarter stood at 10.4 trillion won ($7.5 billion), up from 670 billion won reported in the same period last year. Samsung said its consolidated revenues rose by about 23%. Samsung said that in the second half of this year, artificial intelligence servers are expected to take up a larger portion of the market as major cloud service providers and enterprises expand their AI investments.