Samsung Elec Q1 profit surges eightfold to a record
Samsung Electronics' operating profit surged eightfold to a record 57.2 trillion won in Q1, driven by higher chip prices amid an AI boom. The company's chip business posted a record 53.7 trillion won in operating profit, accounting for 94% of its total profit.
Samsung Electronics reported a record operating profit of 57.2 trillion won in Q1, up eightfold from a year earlier. Revenue rose 69% to 133.9 trillion won. The company's chip business drove the growth, with operating profit surging to a record 53.7 trillion won. The AI data centre boom has led to a supply crunch, driving up memory chip prices. Samsung expects earnings to improve further in Q2 as investment in AI infrastructure continues to expand. The company's shares rose 1.3% after the earnings announcement.
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