Samsung Electronics delivered one of the strongest quarters in its history, posting a more than 1,800% year-over-year jump in operating profit. Still, the blockbuster earnings failed to impress investors as concerns about artificial intelligence spending sent the company's stock sharply lower.
Shares of the South Korean technology giant closed nearly 7% lower on Tuesday after it released preliminary results for the second quarter. Samsung estimated operating profit of 89.4 trillion won, or about $58.4 billion, for the April through June quarter, up from 4.7 trillion won during the same period a year ago.
