Samsung Electronics likely to report stupendous surge in quarterly profit to record level

SEOUL: Samsung Electronics , benefiting from red-hot chip prices stoked by the AI boom, is expected to book a six-fold jump in operating profit for January-March – a quarterly record and just shy of what it earned for all of the past business year.

Bolstered by what it calls an “unprecedented supercycle” for memory chips, Samsung is projected to flag on Tuesday a profit of 40.5 trillion won ($26.9 billion) on a 50% climb in revenue, according to an LSEG SmartEstimate drawn from ‌29 analysts.