Samsung Electronics second-quarter operating profit beats estimates on soaring AI chip demand
The chip-making unit drove nearly all of the gain as Samsung said AI server demand kept memory prices and shipments rising.
- Samsung Electronics reported 89.5 trillion won operating profit for the second quarter Thursday, up 1,814 percent year-on-year, while revenue reached 171.5 trillion won, rising 130 percent.
- Robust AI-driven demand continued driving growth in Samsung's memory chip business, following a July 7 forecast predicting a roughly 19-fold profit jump from the prior year.
- The chip-making Device Solutions Division posted 127.5 trillion won in sales and 89.2 trillion won in operating profit. Conversely, the Device Experience Division swung to an operating loss of 800 billion won on 49 trillion won in revenue.
- Domestic rival Hynix reported record second-quarter profit on Wednesday, though it missed analysts' estimates, sending shares down nearly 10%.
- Samsung last week unveiled its latest product lineup featuring new foldable smartphones alongside an expanded strategic collaboration with Broadcom across memory and foundry technologies.
91 Articles
91 Articles
Samsung reports billions in record profit for Q2, thanks to AI boom
South Korean technology giant Samsung Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival SK Hynix also reported record earnings, as the world’s two largest memory chipmakers continue to ride the global artificial intelligence boom.Despite their soaring profits, the companies’ shares have fallen sharply this week in South Korea’s volatile stock marke…
The Economic Times
LatestlySamsung AI demand drives record chip earnings amid foundry and mobile hurdles
Samsung's semiconductor business achieved record second-quarter performance driven by AI server memory demand. However, its foundry operations continue to trail Taiwan Semiconductor Manufacturing Co. while mobile unit faces rising component costs. The foundry division shows signs of improvement with increased demand for AI-related products and advanced process nodes. Samsung's mobile business experienced a profit loss due to surging mobile memor…
Samsung posts record $62 billion profit — and investors sell off anyway
South Korean technology giant Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival Hynix also reported record earnings, as the world’s two largest memory chipmakers continue to ride the global artificial intelligence boom. Despite their soaring profits, the companies’ shares have […]
The AI boom brings the Korean electronics company a record result – and causes unrest on the stock market. The government pushes a bar to the hectic hustle and bustle.
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