Samsung SDS Q3 Revenue Up 11.2%, Cloud Business Grows 18% on Enterprise AI Demand
South Korean IT firm Samsung SDS reports Q3 results with cloud revenue rising 18% due to strong AI transformation demand.
Samsung SDS, a major South Korean IT services and logistics company, released its third-quarter earnings report on October 29. Consolidated revenue reached 3.77 trillion KRW, up 11.2% year-over-year, while operating profit rose 3.7% to 241 billion KRW. The performance was primarily driven by rapid expansion in cloud services and increased air and sea freight volumes.
Within the IT services division, the cloud business served as the core growth engine, generating 796.1 billion KRW in revenue, an 18% increase year-over-year. Samsung SDS attributed this growth largely to expanding demand for Artificial Intelligence Transformation (AX) among enterprises. Specifically, the Cloud Service Provider (CSP) segment grew 15% due to increased demand for Samsung Cloud Platform (SCP) and expanded GPU-as-a-Service (GPUaaS) supply to public and software sectors. The Managed Service Provider (MSP) segment grew 25%, driven by financial sector AX projects, ERP expansions in shipbuilding, and increased adoption of global AI services.
The logistics business also performed strongly, with revenue reaching 2.09 trillion KRW, up 16% year-over-year, marking the first time quarterly revenue exceeded 2 trillion KRW. This growth was supported by higher air and sea cargo volumes and rising freight rates. Additionally, Samsung SDS recently acquired 100% of Ujeong Aviation, an air cargo consolidation specialist, to further expand its global aviation logistics capabilities.
To sustain cloud growth momentum, Samsung SDS is accelerating its 'Multi-Dimensional AI Full Stack' strategy, covering everything from data center infrastructure to practical AI service applications. In AI infrastructure, the company has been selected as the preferred bidder for Pacific Asset Management's large-scale data center Design-Build-Operate (DBO) project exceeding 200MW. Meanwhile, the National AI Computing Center is targeted for completion in 2028, and the initial 60MW AI data center in Gumi, North Gyeongsang Province, is scheduled to break ground in early November.