Samsung posts weaker profit recovery as it misses out on AI boom

Reuters - 31/10
Samsung Electronics said its third-quarter profit jumped from a year earlier, but the pace of recovery weakened from the prior quarter as it struggles to cash in on the AI boom that has benefited chip rivals like TSMC and SK Hynix .
  • Q3 operating profit of $6.7 bln slightly above preliminary estimate
  • Forecasts limited earnings growth in Q4
  • Company this month made rare apology for disappointing earnings
SEOUL, Oct 31 (Reuters) - Samsung Electronics (005930.KS), opens new tab said its third-quarter profit jumped from a year earlier, but the pace of recovery weakened from the prior quarter as it struggles to cash in on the AI boom that has benefited chip rivals like TSMC (2330.TW), opens new tab and SK Hynix (000660.KS), opens new tab.
The world's biggest maker of memory chips, smartphones and TVs said it expected limited earnings growth in the current quarter, as growth in chip division would be offset by weakness in its "set" business. The latter typically refers to smartphones, TVs and home appliances, but it did not elaborate further.
Samsung posted on Thursday an operating profit ...
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