Samsung Q2 Profit Climbs

(RTTNews) - Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported that its second quarter net income attributable to shareholders of parent company climbed to 9.64 trillion won from 1.55 trillion won in the prior year. This rise in net income was driven by favorable conditions in the memory market, which led to higher average sales prices, and robust sales of OLED panels also contributed to the results.

Operating income for the second quarter climbed to 10.44 trillion won from 0.67 trillion won in the prior year.

Sales for the second quarter rose about 23.44% to 74.07 trillion won from the prior year.

The DS Division posted 28.56 trillion won in consolidated revenue and 6.45 trillion won in operating profit for the second quarter.

In the second half of 2024, AI servers are expected to take up a larger portion of the market as major cloud service providers and enterprises expand their AI investments.

In the second half, the Foundry Business expects a rebound in mobile demand and continued high growth in demand for AI/HPC applications. As a result, the foundry market is expected to experience growth overall, particularly in advanced nodes, the company said.

SDC posted 7.65 trillion won in consolidated revenue and 1.01 trillion won in operating profit for the second quarter.

The mobile display business posted sales growth, driven by solid demand for flagship products, along with effectively supporting new smartphone launches from key customers.

The MX and Networks businesses posted 27.38 trillion won in consolidated revenue and 2.23 trillion won in operating profit for the second quarter.

The Visual Display and Digital Appliances businesses posted 14.42 trillion won in consolidated revenue and 0.49 trillion won in operating profit in the second quarter.

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