Samsung Electronics' Q2 Profit Surges 14-Fold, Sales Up 130%

MT Newswires Live

07/30

Samsung Electronics (KRX:005930) posted a 1,344% year-over-year jump in attributable net income to 71.3 trillion won in the second quarter from 4.934 trillion won, according to a regulatory filing on Thursday.

Sales surged 130% to 171.5 trillion won in the June quarter from 74.6 trillion won, which the South Korean tech company attributed to strong demand for its memory products amid the artificial intelligence boom.

Shares of Samsung rose nearly 7% in recent trade.

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