Samsung posts record $80 billion profit in Q3 on AI chip boom
SEOUL: Samsung Electronics said on Thursday its operating profit rose nearly ninefold to a record high in the third quarter, driven by robust demand for AI chips, even as investors remained wary about the durability of AI spending. The world’s top memory chipmaker reported operating profit of 107.4 trillion won ($80.04 billion) for the July-to-September period, in line with its estimate and up…
Seoul: Samsung Electronics reported a staggering 783 percent increase in its operating profit for the third quarter, reaching an impressive 107.44 trillion won, as the AI boom fueled record earnings. The memory business was the primary driver of the company's operating profits, with semiconductor sales posting an operating profit of 106.5 trillion won, accounting for 99.1 percent of the total.
Samsung claimed this marks the first time in global tech company history to achieve quarterly operating profits exceeding 100 trillion won, while also setting record quarterly revenue and operating profit for the fourth consecutive quarter.
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- Samsung's Q3 Operating Profit Soars 783% As AI Boom Drives Record Earnings freepressjournal.in
