Samsung Elec Q1 profit surges eightfold to a record

Reuters Thu, April 30, 2026 at 9:13 AM GMT+9 1 min read

- 005930.KS

SEOUL, April 30 (Reuters) - Samsung Electronics said on Thursday its operating profit ‌jumped eightfold to a record in ‌the first quarter, underpinned by higher chip prices as ​an artificial intelligence boom led to a supply crunch.

Samsung expects earnings to improve further in the second quarter, saying investment ‌in AI infrastructure ⁠would continue to expand, driving up memory chip prices.

The world's top ⁠memory chipmaker posted 57.2 trillion won ($38.43 billion) in operating profit for the January-to-March ​period, in ​line with its ​estimate of 57.2 trillion ‌won and up from 6.69 trillion won a year earlier.

The South Korean company's revenue rose 69% to 133.9 trillion won in the quarter from a year earlier.

The ‌AI data centre boom ​has spurred chipmakers to ​shift capacity ​to making advanced chips used in ‌Nvidia's AI accelerators, squeezing supply ​of traditional ​chips and driving up prices.

Samsung Electronics shares rose 1.3% after the earnings ​announcement.

($1 = 1,488.2900 ‌won)

(Reporting by Hyunjoo Jin, Heekyong Yang and ​Joyce Lee; Editing by Muralikumar ​Anantharaman and Christopher Cushing)

Terms and Privacy Policy Privacy Dashboard More Info

Original Article on Source

Source: “AOL Money”