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Home Earnings

Samsung’s Q3: AI Chips Shine, But Mobile Slump Hits Profits Hard

Paul Balo by Paul Balo
November 2, 2024
in Earnings
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The world’s top memory chip maker just revealed its Q3 performance, and it’s a tale of two markets. Here’s the tech breakdown:

  • Revenue: 79.1T won (slightly above guidance)
  • Operating Profit: 9.18T won ($2.8B)
  • Chip Division Profit: Down 40% from Q2

While traditional markets stumbled, AI-related chip demand remains robust. Samsung’s foundry unit saw strong interest in advanced nodes for AI applications, suggesting the AI boom is real.

The Speed Bumps:

  • Mobile chip demand remains weak
  • Chinese competitors flooding the market with legacy chips
  • PC market recovery slower than expected
  • Stock down nearly 25% this year

Samsung’s betting big on AI chip demand continuing to grow in 2024, even as traditional mobile and PC markets lag. They’re particularly optimistic about server demand, driven by tech companies’ ongoing AI investments.

While Samsung’s missing broader profit expectations, their AI chip business could be their silver lining in an otherwise challenging market.

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Tags: earningssamsungsamsung q3 2024 earnings
Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

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