Samsung Electronics has posted its biggest quarterly profit in more than three years, reflecting booming memory chip demand while AI development accelerates globally.
South Korea’s largest company reported an operating profit of 12.1 trillion won ($8.5 billion) in the September quarter, compared with analysts’ projection for 9.70 trillion won, according to a preliminary earnings report released on Tuesday. Revenue climbed to 86 trillion won. The company will provide a full financial statement with net income and divisional breakdowns later this month.
The results may bolster confidence among investors betting on the durability of demand for AI servers and memory chips. Samsung’s shares have surged more than 60% since early June, buoyed by signs of recovery in its pivotal semiconductor division, which typically accounts for 50% to 70% of the company’s annual profits.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.