Samsung Q3 profit jumps nearly nine-fold as AI memory boom lifts chip earnings
Samsung projected third-quarter operating profit of 107.4 trillion won, up from 12.17 trillion won a year earlier and above analysts’ estimate of 106.1 trillion won. Revenue would likely rise 127% to 195 trillion won.
1. Profit forecast rises
Samsung projected a nearly nine-fold increase in third-quarter operating profit, to 107.4 trillion won, as demand for artificial intelligence chips drove strong memory earnings. The estimate for July through September exceeded analysts’ 106.1 trillion won estimate and marked the company’s fourth consecutive quarter of record operating profit.
2. Memory demand and costs
Samsung said third-quarter revenue would likely rise 127% year over year to 195 trillion won. Analysts expect memory chip supply to continue lagging demand, while higher memory prices are increasing costs for Samsung’s smartphone and consumer electronics businesses. Samsung will release detailed results, including a breakdown by business division, on October 29.
