Samsung seen to post 15-fold jump in Q2 profit

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Samsung Electronics expects its earnings for the three months to June 2024 to jump 15-fold compared to the same period last year, driven by the artificial intelligence boom.

The world's largest memory chip, smartphone and TV maker estimated its operating profit rose to 10.4 trillion won ($7.5 billion) during the three-month period, from 670 billion won a year earlier.

The company is expected to disclose its financial results on July 31.

The stock ended Friday 2.72% higher at 86.9 won, its highest level since January 2021.