Samsung Electronics expects record quarterly profit jump
Samsung expects a six-fold profit jump to 40.5 trillion won for the first quarter as AI demand grows. Analysts remain wary of the Middle East conflict's impact.
SAMSUNG ELECTRONICS CO LTD is projected to report a significant surge in quarterly operating profit, driven by elevated memory chip prices resulting from the ongoing artificial intelligence boom. Analysts expect the company to post a six-fold increase in profit for the first quarter, nearly matching its total operating income for the entire previous business year.
According to an LSEG SmartEstimate based on 29 analysts, the company is expected to announce an operating profit of 40.5 trillion won ($26.9 billion) on Tuesday, alongside a 50% increase in revenue. This compares to the 43.6 trillion won in operating income recorded for all of last year. Some analysts, including those at Citi, are even more bullish, forecasting profits as high as 51 trillion won.
