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Samsung operating profit up 1,800% in second quarter on AI boom
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Channel NewsAsia Asia Pacific News
The world's largest memory chipmaker posted April-June operating profit of 89.49 trillion won (US$62 billion) - up 1,813.8 per cent on-year, the company said in a regulatory filing.
The firm posted revenue of 171.49 trillion won, up 130 per cent from a year earlier.
Its net profit soared 1,299.9 per cent on-year to 71.62 trillion won, it said.
SK hynix's second quarter operating profit and revenue posted on Wednesday came in below expectations, even as net profit soared a forecast-beating 1,242 per cent.
Samsung said in a statement that its memory business "achieved another record-breaking quarter" by proactively addressing AI demand with a primary focus on server products.