Samsung Electronics expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year.
An artificial intelligence (AI) boom has lifted the prices of advanced chips, driving up the firm’s forecast for the second quarter.
The South Korean tech giant is the world’s largest maker of memory chips, smartphones and televisions.
The announcement pushed Samsung shares up more than 2% during early trading hours in Seoul.
The firm also reported a more than 10-fold jump in its profits for the first three months of this year.
In this quarter, it said it is expecting its profit to rise to 10.4tn won ($7.54bn; £5.9bn), from 670bn won last year.
That surpasses analysts’ forecasts of 8.8tn won, according to LSEG SmartEstimate.
“Right now we are seeing skyrocketing demand for AI chips in data centers and smartphones,” said Marc Einstein, chief analyst at Tokyo-based research and advisory firm ITR Corporation.
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