Samsung expects massive profit boom in Q2 given AI rise

Samsung today announced provisional sales and profit results for the second quarter. Samsung formally announced the provisional/predicted sales and operating profit, suggesting a massive profit boom in Q2, 2024 given the AI memory semiconductor rise.

In Q2, 2024, Samsung sales provisionally increased by 2.89% and operating profit by 57.34% compared to the previous quarter thanks to AI boom. Besides, the sales climbed by 23.31% and operating profit by 1,452.24% compared to the same period last year.

The company expects sales of 74 trillion won and operating profit of 10.4 trillion won on a consolidated basis. While these results are not final, there won’t be much change in the final result when it comes out. Samsung had a pretty profitable period in the second quarter.

Samsung in Q2

• Consolidated Sales: Approximately 74 trillion Korean won
• Consolidated Operating Profit: Approximately 10.4 trillion Korean won

The Korean tech giant is currently facing yield issues in its second-generation 3nm process. The flagship Exynos processor is unlikely to be commercialized this year. It would lead the Mobile business to face additional burdens due to rising prices of Snapdragon chipsets.

Meanwhile, Samsung is focussing on HBM (high bandwidth memory) semiconductors. HBM is a key player in artificial intelligence servers and data centers. The booming AI market will directly benefit Samsung’s semiconductor business.