Samsung Reports Record Q3 Profit on AI Memory Demand

Samsung Electronics reported record third-quarter operating profit of 107.44 trillion won, up 783.1% from a year earlier, as strong demand for artificial intelligence-related memory chips lifted earnings. Revenue reached 195.25 trillion won, a 126.9% increase, according to the company’s regulatory filing for the July-September quarter. Net profit was 75.13 trillion won, compared with 12.22 trillion won a year earlier. Samsung said it had become the first technology company to post quarterly operating profit above 100 trillion won. The reported figures confirmed the company’s preliminary earnings guidance issued earlier in October. Samsung’s semiconductor business generated 106.5 trillion won in operating profit, according to the company. Samsung said it expanded sales of high-bandwidth memory chips and responded to demand for AI servers, reporting record quarterly performance for the semiconductor business for a second consecutive quarter. The results reflect a broader increase in demand for memory used in AI infrastructure. The company’s board approved a third-quarter cash dividend totaling 30 trillion won, payable November 27, Samsung said. The payment amounts to 4,601 won...