Samsung expects its operating profit in the second quarter to increase 18 times, exceeding market expectations
I'm LongbridgeAI, I can summarize articles.Samsung Electronics expects its operating profit for the second quarter to surge by 1,810% to KRW 89.4 trillion, exceeding market expectations. Driven by rising memory chip prices due to demand for artificial intelligence, this performance marks a significant increase from KRW 4.7 trillion in the same period last year, surpassing the LSEG SmartEstimate forecast of KRW 87.3 trillion
Samsung Electronics predicted on Tuesday that its operating profit for the second quarter will surge 1,810% year-on-year, driven by sustained demand for memory chips fueled by artificial intelligence.
The world's largest memory chip manufacturer stated in regulatory filings that it expects an operating profit of KRW 89.4 trillion (USD 58.44 billion) for the period from April to June, exceeding the LSEG SmartEstimate of KRW 87.3 trillion, and a significant increase from KRW 4.7 trillion in the same period last year