Technology
Samsung Electronics third-quarter profit in line with estimates amid rising demand for AI memory chips
Key Points
South Korean tech giant Samsung Electronics on Thursday reported third-quarter operating profit that is broadly in line with analysts' expectations, as demand for advanced memory chips used in artificial intelligence applications continued to grow. Here are Samsung's third-quarter results compared with LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate: - Revenue: 195.25 trillion won vs. 195.79 trillion won expected - Operating profit:...
South Korean tech giant Samsung Electronics on Thursday reported third-quarter operating profit that is broadly in line with analysts' expectations, as demand for advanced memory chips used in artificial intelligence applications continued to grow.
Here are Samsung's third-quarter results compared with LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
- Revenue: 195.25 trillion won vs. 195.79 trillion won expected
- Operating profit: 107.44 trillion won vs. 107.66 trillion won expected
Samsung's revenue rose 126.88% year-on-year and 13.85% from the previous quarter, while operating profit rose 783.11% from a year earlier.
During the third quarter, Samsung Electronics and five of its affiliates announced a combined $1 billion investment in KKR-backed Helix Digital Infrastructure. Samsung Electronics will invest $500 million, with the remaining amount coming from its affiliates.
Samsung also announced a partnership with French AI startup Mistral AI to use AI technologies in its semiconductor operations, including chip design and manufacturing. The company also led Mistral's Series D funding round.