On October 8, Samsung Electronics unveiled its preliminary earnings report for the third quarter (Q3) on Thursday, revealing a remarkable 783% year-on-year surge in operating profit. Additionally, there was a notable 20.01% increase compared to the previous quarter, slightly outperforming analyst expectations. This impressive growth was primarily propelled by a significant uptick in demand for artificial intelligence (AI) chips, which drove robust profitability in the memory business.

According to regulatory filings, Samsung, the global leader in memory chip manufacturing, anticipates an operating profit of KRW 107.4 trillion (approximately USD 80.17 billion) for the period spanning July to September. This figure surpasses market forecasts of KRW 106.1 trillion and marks a new record high in operating profit for the fourth consecutive quarter.

Meanwhile, Samsung’s Q3 revenue reached KRW 195 trillion, reflecting a substantial 127% year-on-year increase. However, this figure slightly fell short of market expectations, which stood at KRW 199 trillion. Samsung Electronics is scheduled to release its comprehensive earnings report later this month.