Samsung Electronics forecasts record earnings for the second quarter, citing strong global demand for artificial intelligence (AI) chips. In its earnings guidance, the company projects operating profit of 89.4 trillion won (about $58.4 billion) and sales of 171 trillion won. Samsung estimates operating profit will rise 1,810.3% year over year and increase 56.2% from the previous quarter, while sales are expected to jump 129.3% year over year and grow 27.7% quarter over quarter.
The projected results extend Samsung’s streak of record quarterly performance. The company’s prior record quarterly operating profit was 57.23 trillion won in the first quarter of this year, and the new guidance indicates another record for the quarter. Samsung also notes that the second-quarter operating profit exceeds the company’s combined operating profit over the past three years, with those totals described as 82.9 trillion won.
Business Insider similarly reports the same guidance figures, emphasizing that while the forecast is near 19 times the year-earlier level, investor reaction is a separate issue. Across outlets, the forecast is attributed to the ongoing AI chip boom.
