Samsung expects record $80bn quarterly profit as AI memory demand soars
Samsung Electronics expects its operating profit for the third quarter to reach a record level of about 107.4 trillion won ($80bn), a significant increase from 12.17 trillion won a year earlier. The South Korean company released its preliminary figures today.
It represents an increase of nearly nine times, or roughly 783 per cent, and sales are also expected to more than double, rising by 127 per cent to around 195 trillion won.
Growth on a quarter-on-quarter basis was maintained. In the second quarter, Samsung achieved an operating profit of 89.49 trillion won on sales of 171.5 trillion won, which represented a rise of about 20% over the previous three months.
Moreover, Samsung stated that demand for AI chips had driven growth in the memory sector, since its memory chips are used in the servers that train and run AI models.
The profit figure beat the LSEG SmartEstimate of 106.1 trillion...
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