Samsung Electronics reported a record operating profit of 57.2 trillion won for the first quarter, an eightfold increase from a year earlier. The surge was driven by higher memory chip prices as the AI boom created a supply crunch.
Revenue rose 69% to 133.9 trillion won. The company's chip business accounted for 94% of total profit, posting a record 53.7 trillion won. Profit in the mobile and network division fell 30% to 3 trillion won.
Samsung expects further earnings improvement in the second quarter, citing continued investment in AI infrastructure. Shares rose 1.3% on the news and are up 88% for the year.