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DevelopingEconomy

Samsung record third-quarter profit

Samsung reported record Q3 operating profit of about $80.5bn, up 783%, on revenue of about $146.3bn, driven by AI chip demand. It plans to raise spending by more than 60% this year, but its shares fell as it gave no plan to share profits.

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BloombergThu 29 Oct · 03:44 UTC

Samsung hiked its spending plans after relentless demand for AI infrastructure drove memory prices higher, though its…

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Developments

Thursday 29 October

1 development

  1. 01:20 UTC· the latest

    Samsung posts record Q3 profit on AI chip boom

    Operating profit rose 783% to about $80.5bn and revenue 127% to about $146.3bn, roughly in line with estimates; the company plans to lift spending over 60%.

    3 sourcesReuters, Techmeme, Bloomberg

    • ReutersBlueskyThu 29 Oct, 01:20

      Samsung posts record profit in Q3 on AI chip boom Samsung Electronics said on Thursday its operating profit ​rose nearly ninefold to a record ‌high in the third quarter, driven by robust demand for AI chips, even ​as investors remained wary about ​the durability of AI spending.
      The original post

    • TechmemeRSSThu 29 Oct, 03:20

      Samsung reports Q3 revenue up 127% YoY to a record ~$146.3B and a record operating profit up 783% to ~$80.5B, both roughly in line with estimates (Jenny Lee/CNBC) Jenny Lee / CNBC: Samsung reports Q3 revenue up 127% YoY to a record ~$146.3B and a record operating profit up 783%
      The original post

    • BloombergBlueskyThu 29 Oct, 03:44

      Samsung hiked its spending plans after relentless demand for AI infrastructure drove memory prices higher, though its chip division’s profit missed lofty investor expectations. Samsung Electronics Co. plans to hike spending more than 60% this year after selling out of high-end c
      The original post