Samsung net profit surged 14-fold in the second quarter, as a stellar performance by its core semiconductor division, fueled by robust demand for advanced artificial-intelligence chips, helped the technology titan extend its streak of record earnings.

Net profit for the three months ended June reached a record 71.625 trillion won, equivalent to $49.64 billion, a nearly 1,300% increase from a year earlier. That figure surpassed the 70.170 trillion won consensus estimate compiled by FactSet. Revenue for the quarter more than doubled, hitting a record 171.500 trillion won, while operating profit soared 19-fold to a record 89.492 trillion won.

The robust results from the world's top memory-chip maker come as investor concerns have resurfaced over the sustainability of the AI boom, despite tight supplies and elevated prices for memory products used to power AI infrastructure. On Thursday, the company reiterated an optimistic outlook for the memory-chip market over the coming quarters.

With strong semiconductor demand expected to persist through the second half of the year, Samsung projected that overall results would continue to improve.