Samsung Electronics announced earnings guidance for the third quarter on Thursday, estimating a consolidated operating profit of approximately 107.4 trillion Korean won ($80 billion) as demand for AI chips boosts memory sales.
The estimate represents an almost ninefold jump year-over-year and a 20% increase from 89.5 trillion Korean won ($67 billion) in Q2, according to the firm's statement.
Meanwhile, the world's largest memory chipmaker estimated third-quarter consolidated sales at approximately 195 trillion Korean won ($145 billion), up roughly 127% year-over-year and 13.7% compared to Q2.
Record profits
Reuters reported on Thursday that Samsung's projected quarterly profit would represent a record for a technology company, and the first to top 100 trillion Korean won.
The forecast marks Samsung's fourth consecutive quarter of record operating profit, underscoring the global memory chip shortage as AI infrastructure investment continues to outpace supply.
"The supply constraints are expected to become even more severe in 2027 than 2026, reinforcing our view that the supply shortage will persist through 2028," Samsung said during its second-quarter earnings call.
Samsung shares closed down 2.4% on Thursday in Korea, but remain up 118% year-to-date, per TradingView.
The company said it will announce its full Q3 results via a conference call on Oct. 29.