Samsung's Q2 Profits Soar 15-Fold Amid AI Boom

Samsung Electronics expects Q2 2024 profits to surge 15-fold, driven by AI chip demand.

[{"selector":"#anim-7938c288-8410-4723-9e86-11dd03e05cd9","keyframes":{"transform":["translate3d(-153.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ceaddd05-ebae-496c-ae4b-cdac98d66e5d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0200a91-81fa-4f5a-a7e1-2331dd7bad7e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Samsung remains the world's largest producer of memory chips, smartphones, and TVs.

[{"selector":"#anim-f69e6719-5e84-495d-9dc5-3e4d1336c827","keyframes":{"transform":["translate3d(-153.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-93bd64ed-9a9e-4d34-933c-0c29a9f504aa","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3e834c91-1414-4c8d-b917-4ec956bef9bf","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Samsung's profit forecast led to a 2% rise in its shares during early Seoul trading.

[{"selector":"#anim-276cab7f-6ac9-4eef-a34f-14afe426c66f","keyframes":{"transform":["translate3d(-153.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3fc02e95-fcc8-4720-9c5c-599f901357db","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8932ed6c-8382-4ba2-a3ba-7a6aca0b6184","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Q1 2024 saw Samsung's profits increase more than 10-fold, setting a strong precedent.

[{"selector":"#anim-1650d09c-af7b-4627-bfa1-53821c8103ce","keyframes":{"transform":["translate3d(-153.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a27caef3-2d98-4965-ab3b-87e9435b9d64","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-012549f6-0281-4444-813c-c9a0a8d59e26","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Analysts credit Samsung's earnings boost to high demand for AI chips in data centers and smartphones, echoing broader tech market trends.

[{"selector":"#anim-9a262951-c5a4-47cc-8e39-63e77182e33f","keyframes":{"transform":["translate3d(-153.00001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c79cbf45-403f-4bee-ad47-d93379f9c215","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fde1ce8f-22a5-4135-868c-3e1caf0a20e3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Samsung's Q2 Profits Soar 15-Fold Amid AI Boom

Samsung Electronics expects Q2 2024 profits to surge 15-fold, driven by AI chip demand.

Samsung remains the world's largest producer of memory chips, smartphones, and TVs.

Samsung's profit forecast led to a 2% rise in its shares during early Seoul trading.

Q1 2024 saw Samsung's profits increase more than 10-fold, setting a strong precedent.

Analysts credit Samsung's earnings boost to high demand for AI chips in data centers and smartphones, echoing broader tech market trends.

Read More Stories