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Investing.com-- Samsung Electronics Co (KS:005930) said on Tuesday its second-quarter operating profit likely plunged 56% from a year earlier, as weakness in its semiconductor division and delayed AI chip shipments weighed on earnings.
The world’s largest memory chipmaker estimated operating profit at 4.6 trillion won ($3.3 billion) for the quarter ended June 30, sharply down from 10.4 trillion won a year earlier and well below a LSEG estimate of 6.2 trillion won.
Revenue was expected to come in at 74 trillion won, nearly flat from 74.07 trillion won a year ago.
Samsung cited one-off costs in its memory business, including inventory revaluations, and shipment delays of advanced AI chips as key drags. U.S. export curbs on AI chip deliveries to China also impacted its chip-making division.
Samsung will release detailed earnings later this month.