Samsung Electronics on Thursday released preliminary third-quarter results showing a sharp rise in profitability, with operating profit up 783% from a year earlier and 20.01% from the previous quarter, slightly ahead of analyst expectations. Regulatory filings showed the world’s largest memory chipmaker expects operating profit for the July-September period to reach 107.4 trillion won, or about $80.17 billion, compared with a market forecast of 106.1 trillion won. The company said the gain was driven by strong growth in memory business earnings as demand for artificial intelligence chips surged. Revenue for the quarter came in at 195 trillion won, up 127% year over year but below the market expectation of 199 trillion won. Samsung also said it has now posted record operating profit for a fourth consecutive quarter. A full earnings report is scheduled for release later this month.
Samsung Electronics on Thursday reported preliminary third-quarter results, saying operating profit surged 783% from a year earlier and rose 20.01% from the previous quarter, slightly above analyst expectations.
According to a regulatory filing, the world’s largest memory chipmaker expects operating profit for the July-to-September quarter to reach 107.4 trillion won, or about $80.17 billion. The market forecast stood at 106.1 trillion won. Samsung said this marked its fourth straight quarter of record operating profit.
Third-quarter revenue was 195 trillion won, up 127% from a year earlier. That figure was below the market expectation of 199 trillion won.
The preliminary results pointed to strong profit growth in Samsung’s memory business, helped by surging demand for artificial intelligence chips. The company said it will release its full earnings report later this month.
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