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Samsung profit surges over eight-fold to beat estimates as AI boom fuels memory chip crunch
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Samsung profit surges over eight-fold to beat estimates as AI boom fuels memory chip crunch

CNBCΒ·Dylan ButtsΒ·6 months ago
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The Samsung exhibition stand features the prominent ''A new era of mobile agentic AI'' slogan by the South Korean company Samsung Electronics.

Joan Cros | Nurphoto | Getty Images

Samsung Electronics reported an over eight-fold increase in first-quarter operating profits on Thursday, hitting a new record and beating analysts' estimates on the explosive growth of its chip business.

Here are Samsung's first-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:

Revenue : 133.9 trillion Korean won ($89.96 billion) vs. 132.69 trillion won expected

Operating profit : 57.2 trillion won vs. 55.28 trillion won expected

The South Korean technology giant's quarterly profit climbed more than 750% from a year earlier to a fresh record.…

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