Samsung Electronics released preliminary financial data showing third-quarter operating profit of about 107.4 trillion won, or roughly $80.1 billion, for the period ended in September. That was more than eight times higher than a year earlier and marked a record high for the company, helped by a rebound in memory chip prices and strong demand tied to AI infrastructure.
The figure still came in slightly below the market consensus of 108.7 trillion won, a gap of about 1%. Revenue was 195 trillion won and also missed expectations. The report said rising component costs squeezed margins in Samsung’s consumer electronics business.
AI server demand drove earnings higher
According to Bloomberg, Samsung’s preliminary third-quarter operating profit reached about 107.4 trillion won. Because the comparison base a year earlier was low, the year-on-year increase topped eightfold. The result also reflected heavy consumption of high-performance memory chips as data center construction continued around the world.
Even though profit hit a record, pressure on the consumer electronics division from rising component costs meant both operating profit and revenue of 195 trillion won came in about 1% below analyst expectations.
HBM remains a key area to watch
Market research firm Counterpoint Research raised its estimate for third-quarter DRAM contract price growth to 10% to 20%, up from an earlier 5% to 10%. That points to customers bringing purchases forward and to stronger pricing power for suppliers.
The report said analysts see Samsung’s capacity and returns in high-bandwidth memory, or HBM, as not yet fully reflected. As specification alignment with major AI accelerator makers progresses, the contribution from higher-end products is expected to become clearer next year.
Chip division seen as the main profit engine
Helped by the recovery in semiconductors, South Korea’s semiconductor exports in September rose more than threefold from a year earlier. The market expects Samsung’s chip division to post quarterly operating profit of as much as 110 trillion won, making it the main support for group earnings, while the consumer electronics business may face losses.
Those trends suggest the semiconductor business has moved past the earlier downturn caused by oversupply, with operating performance now being led by demand from AI infrastructure.
Stock reaction stayed muted
Despite record revenue and profit, Samsung shares did not rise sharply at the open and remained about 25% below their June high. That points to continued caution in capital markets toward the semiconductor industry’s cyclical swings.
To defend long-term market share, Samsung and SK Hynix are gradually expanding advanced-process capacity and making strategic investments in AI-related companies in an effort to support demand and preserve pricing strength.