After announcing its revenue estimates earlier this month, Samsung has announced its financial results for the second quarter of this year. The South Korean tech giant posted a year-over-year increase of more than 23%. % sales up and operating profit up 1,458%. Behind these impressive figures lies the rising price of memory chips, at a time of the continuing boom in artificial intelligence.
Samsung has released its final financial data for the period April-June 2024. Sales reached 74.07 trillion won (about 1.36 trillion Czech crowns).)Which one is from year to year 23.42% more. The operating profit then amounts to 10.44 billion. earned (approximately 191.4 billion CZK)Which one is meannually 1,458% more.
These figures are higher than analysts’ estimates. Samsung revealed that this is due to better sales of memory chips (HBM and DRAM) and better profitability. Its chip division recorded a turnover of 28.6 billion. earned (approximately CZK 486 billion) has operating profit reached 6.45 billion. earned (approximately 110 billion CZK)). It expects memory chip sales to remain strong for the rest of the year.
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On the other hand, Samsung’s smartphone sales declined slightly during the reporting period, which is typical for it. The Korean giant launches its flagship phones in the first quarter of each year and usually records higher sales during this period. In the second quarter, sales are down as Samsung is not bringing any major new products. However, the company says that sales of its current flagship Galaxy S24 series continue to grow.
