Samsung's Q3 operating profit surges 783%, AI memory boom drives chip business profitability

Odaily News: Samsung Electronics announced its preliminary third-quarter results on Thursday. The company's third-quarter operating profit surged 783% year-over-year and rose 20.01% quarter-over-quarter, slightly beating analyst expectations, mainly driven by a surge in AI chip demand that fueled strong profit growth in its memory business. Regulatory filings show that the world's largest memory chip maker expects operating profit of 107.4 trillion won (approximately $80.17 billion) for the July-to-September quarter, compared with a market forecast of 106.1 trillion won. This marks Samsung's fourth consecutive quarter of record operating profit. Its third-quarter revenue was 195 trillion won, up 127% year-over-year, versus market expectations of 199 trillion won. Samsung Electronics will release its full earnings report later this month.