Samsung Stock Jumps Over 6% In Seoul as AI Memory Business Delivers Record Profit: 'Supply Constraints' E

Samsung Electronics Co.

Ltd.'s (OTC:SSNLF) shares rose on Thursday after the chipmaker posted a record second-quarter operating profit as surging artificial intelligence memory demand boosted its semiconductor business, though higher component costs weighed on earnings in its mobile division.

Operating Profit Beat Estimates Operating profit climbed to a record 89.5 trillion KRW ($61.93 billion) for the second-quarter, beating the 88.13 trillion KRW ($60.98 billion) analysts' forecast compiled by LSEG SmartEstimates.

Revenue reached a record 171.5 trillion KRW ($118.70 billion) but fell short of the 172.65 trillion KRW ($119.49 billion) consensus.

The results were driven by the device solutions division, where the memory business delivered another record quarter as strong AI server demand and higher memory prices offset ongoing supply constraints.