Thursday, April 27, 2017

Samsung Reports Its Largest Quarterly Profit Since 2013

Apparently all those phones being recalled didn't hurt Samsung's bottom line as much as we thought it would. 😲

Tech giant Samsung on Thursday said it expected earnings to further improve in the current quarter, after it reported its best quarterly profit since 2013 thanks to a memory chip boom. The South Korean company also said it had decided not to adopt a holding company structure, rejecting demands from U.S. activist hedge fund Elliott Management. It also announced a share buyback worth 2.3 trillion won ($2.03 billion).