Channel NewsAsia
AsiaPac · 1 hrs ago
Samsung forecasts record quarterly profit, beating estimates on AI memory demand
SEOUL, July 7 : Samsung Electronics on Tuesday forecast a 19-fold jump in second-quarter operating profit from a year earlier, its third consecutive quarter of record operating profit, as AI-driven demand continued to boost memory chip prices. The world's largest memory chipmaker estimated April-June operating profit at 89.4 trillion won ($58.44 billion), beating an LSEG SmartEstimate of 87.3 trillion won, according to a regulatory filing. It reported a profit of 4.7 trillion won a year earlier.The figure surpassed Samsung's combined operating profit for the three years from 2023 through 2025. Revenue would likely rise 129 per cent to 171 trillion won from a year earlier, it said. Memory prices continued to climb during the quarter as AI spending broadened beyond high-bandwidth memory (HBM
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