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What will be the primary driver of Samsung's Q4 2024 profits?
2
Resolution / Starting Odds
Memory Chips • 25%
AI Technology • 25%
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Samsung's official Q4 2024 earnings report and press releases
Story
Samsung Reports 15-Fold Surge in Q2 Profits, Driven by AI Technology, Reaching $7.5 Billion
Jul 4, 2024, 11:55 PM
Samsung Electronics has reported a significant surge in its second-quarter (Q2) profits, driven by rising memory chip prices fueled by advancements in AI technology. The company flagged a more than 15-fold increase in operating profit, reaching $7.5 billion, which surpassed Bloomberg's consensus estimate of $5.2 billion. This marks Samsung's highest profits since 2022. Following the announcement, Samsung's share price increased by 1.4% at the stock market's opening.
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