Samsung Q2 Profit Soars, semiconductor Business Drives Sixfold Increase. Samsung Electronics announced a nearly sixfold increase in net profit for the second quarter, driven by a robust performance in its semiconductor business, which contributed more than half of the company’s overall operating profit.

The strong results from the world’s largest memory-chip and smartphone maker highlight the sustained demand for chips, fueled by the artificial-intelligence boom, and continue to drive Samsung’s earnings recovery. Net profit soared to 9.841 trillion won ($7.11 billion) from 1.724 trillion won a year earlier, the company reported on Wednesday. This marks a 46% increase from the previous quarter, surpassing the FactSet-compiled consensus estimate of 8.228 trillion won.

Revenue for the quarter rose 23% to 74.068 trillion won, while operating profit surged almost 16-fold to 10.444 trillion won, largely aligning with the company’s preliminary estimates. The semiconductor business posted an operating profit of 6.450 trillion won, accounting for approximately 62% of Samsung’s total quarterly operating income.

The impressive quarterly results underscore the pivotal role of Samsung’s chip-making segment in its financial performance, as the company continues to benefit from the high demand for memory chips and other semiconductor products. This demand is partly driven by the ongoing advancements and investments in artificial intelligence technologies, which require substantial semiconductor capabilities.

Samsung’s continued success in the semiconductor sector, coupled with strong sales of its smartphones and other electronic devices, positions the company well for sustained growth and profitability in the coming quarters. The company’s strategic focus on expanding its chip production capacity and leveraging emerging technologies is expected to further bolster its market leadership and financial stability. Samsung Q2 Profit Soars, semiconductor Business Drives Sixfold Increase.