Samsung Profit Surges Most in Years After Chip Arm Recovery

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Printed circuit boards containing integrated circuit microchips sit in a holding unit in April 2021 at CSI Electronic Manufacturing Services in Witham, U.K. Photo: Bloomberg

(Bloomberg) — Samsung Electronics Co. Ltd. reported its fastest pace of net income growth since 2010 after artificial intelligence (AI) boom lifted earnings at its semiconductor division.

The world’s largest maker of memory and smartphones posted a six-fold surge in net income to 9.64 trillion won ($6.96 billion) in the June quarter, versus the average analysts’ projection for 7.97 trillion won. Samsung earlier this month reported a fifteenfold rise in preliminary operating profit and a 23% rise in revenue, the biggest gain in sales since 2021.