Samsung Electronics released its preliminary third-quarter results, reporting a sharp rise in operating profit as demand tied to artificial intelligence chips lifted earnings in its memory business. According to the figures, operating profit jumped 783% from a year earlier and rose 20.01% from the previous quarter, coming in slightly above analyst expectations. Samsung said it expects third-quarter operating profit to reach 107.4 trillion won, or about $80.17 billion. Revenue is projected at 195 trillion won, up 127% year over year. The company linked the profit growth to a surge in AI chip demand, which supported profitability in its memory segment. The update was reported by ChainCatcher.
Samsung Electronics released its preliminary third-quarter results, with operating profit surging 783% from a year earlier and rising 20.01% from the previous quarter, slightly above analyst expectations.
The company said a surge in demand for artificial intelligence chips drove profit growth in its memory business. Samsung expects Q3 operating profit to reach 107.4 trillion won, or about $80.17 billion, while revenue is projected at 195 trillion won, up 127% year over year.
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