Samsung has reported its projected financial performance for the second quarter of 2024, expecting total revenue to reach around 74 trillion won with an operating profit of approximately 10.4 trillion won. These figures indicate significant growth, with revenue up by 23% compared to the same quarter in the previous year and operating profit increasing by up to 15 times.
The high profit growth is believed to be driven by the semiconductor business, specifically the demand for DRAM chips like HBM from AI data center customers. Samsung will provide a detailed breakdown of its financial results at the end of the month.
Source: Reuters
TLDR: Samsung expects significant growth in revenue and operating profit in the second quarter of 2024, driven by strong performance in the semiconductor business, particularly in DRAM chips for AI data centers.
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