US EditionPublished • loading... • Updated
Samsung’s third-quarter profit more than doubles, beating estimates as chip recovery gathers pace
- Samsung Electronics announced on Thursday a third-quarter earnings rebound, with operating profit of 12.2 trillion won topping LSEG SmartEstimate's 11.25 trillion won projection.
- After a weak June quarter, Samsung's chip business rebounded with a 19% sales increase, driven by stronger demand for memory used in artificial intelligence.
- Operating profit jumped 160% compared with June, while revenue grew 15.5% over the same period, underpinning Samsung’s rapid earnings rebound.
- Chip sales rose 19% from June as the memory business set a record quarterly high, fueled by strong demand from artificial intelligence.
- The result also beat Samsung's guidance of around 12.1 trillion won, with revenue of 86.1 trillion won underscoring a broader semiconductor recovery.
Insights by Ground AI
45 Articles
45 Articles
Associated Press News+4 Reposted by 4 other sources
Samsung reports 32% rise in operating profit and predicts continued AI-related growth
Samsung Electronics has reported a 32.5% increase in operating profit for the third quarter The result was driven by rebounding demand for Samsung's computer memory chips, which the company expects will continue to grow on the back of artificial intelligence.
·United States
Read Full Article
Coverage Details
Total News Sources45
Leaning Left5Leaning Right6Center16Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 19%
C 59%
R 22%
Factuality
To view factuality data please Upgrade to Premium
