Tech giant: Samsung expects record profit thanks to AI boom
Operating profit clearly exceeds analysts' estimates. And the South Korean tech group records the fourth record quarterly profit in a row.
Samsung has forecast an operating profit of 107.4 trillion Won for the third quarter, a nearly ninefold increase, and revenue of 195 trillion Won. The operating profit beat analysts' estimates of 106.1 trillion Won, while revenue was slightly below the predicted 199.6 trillion Won. This marks the fourth consecutive record quarterly profit for the world's largest memory chip maker by revenue.
The surge in demand for chips, driven by a global data centre building boom, is expected to continue, with Samsung predicting supply will not catch up until 2027. The company is seeking long-term supply contracts with data centre operators to secure investments in new production capacity.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
