Samsung Electronics Forecasts Stronger-Than-Expected Q3 Profit on AI Demand
Samsung Electronics Co Ltd (KS:005930) on Tuesday projected a third-quarter operating profit of approximately 12.1 trillion won ($8.4 billion), surpassing analyst estimates of 10.1 trillion won and outperforming its Q3 2024 profit of 9.18 trillion won. The company also anticipates consolidated sales reaching 86 trillion won, up from 79.1 trillion won in the same period last year.
The upbeat forecast is driven by a robust rebound in memory chip demand, particularly fueled by increased AI-related server and chip requirements. Traditional memory products, including DRAM and NAND, have shown signs of recovery following a two-year decline.
Looking ahead, Samsung plans to start supplying cutting-edge high-bandwidth memory chips to leading AI chipmakers in the upcoming quarters, having recently met NVIDIA Corporation’s (NASDAQ:NVDA) specifications for HBM. The company is scheduled to publish its comprehensive Q3 financial results later in October.
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