(ATTN: RECASTS headline, lead; ADDS byline, details throughout, photo)

By Kim Han-joo

SEOUL, July 30 (Yonhap) -- Samsung Electronics Co. said Thursday its second-quarter net profit jumped nearly 1,300 percent from a year earlier as strong demand for artificial intelligence (AI)-related semiconductors boosted earnings.

Net profit for the April-June period came to 71.62 trillion won (US$49.6 billion), up 1,299.9 percent on-year from 5.11 trillion won a year earlier, the South Korean tech giant said in a press release.

Operating income for the cited quarter rose 1,813.8 percent on-year to 89.49 trillion won while sales increased 130 percent on-year to 171.49 trillion won.

The results met market expectations. The average analyst estimate for net profit was 71.21 trillion won, according to a survey by Yonhap Infomax, the financial data unit of Yonhap News Agency.

In the release, Samsung said it achieved its highest-ever quarterly revenue and operating profit through market response based on technology leadership centered on AI.

(END)

• (LEAD) S. Korea, U.S. open shipbuilding partnership center to advance MASGA initiative
• S. Korea formally completes development of homegrown KF-21 fighter jet
• Nam Joo-hyuk to star in new Disney+ crime thriller 'Code'
• (3rd LD) SK Group chairman ordered to pay 944 bln won in asset division to ex-wife

• Trump threatens 'substantial' Section 301 tariffs on EU after Google fine

• S. Korea formally completes development of homegrown KF-21 fighter jet

• Police drop underage dating charge against actor Kim Soo-hyun
• KRX activates sell-side sidecar for KOSPI on sharp decline
• (LEAD) BTS says it will not submit music for next year's Grammys
• Bourse operator issues circuit breaker for KOSPI on sharp fall