SEOUL (dpa-AFX) - South Korean tech major Samsung Electronics Co. Ltd. (SSNLF, 005930.KS) Thursday announced that it projects significantly higher operating profit in its third quarter with strong sales growth, amid the soaring demand for AI.
For the third quarter, the company projects operating income of 107.40 trillion Korean won, a growth of 782.50 percent from last year's 12.17 trillion won. Sequentially, operating income would grow 20.01 percent from 89.49 trillion won in the preceding second quarter.
Quarterly consolidated sales are expected to increase 126.6 percent to 195.00 trillion won from 86.06 trillion won last year. Sequential sales growth would be 13.70 percent from 171.50 trillion won recorded in the second quarter.
For the year-to-date nine-month period, the company expects operating income of 254.13 trillion won, up 980.03 percent year-over-year, and sales of 500.37 trillion won, up 108.69 percent from last year.
While announcing the second quarter results in late July, Samsung had stated that it projects robust demand in the Memory Business centered on servers stemming from continued AI infrastructure capex and broader adoption of agentic AI.
In South Korea, the shares were trading at 264,250.00 won, down 1.58 percent.
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