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Samsung predicting second-highest operating profits ever for Q1, 2017
Samsung has experienced numerous recent troubles but it’a still seems to be making serious money. The South Korean tech giant has just posted its earnings guidance for Q1, 2017 and it’s anticipating big profits.
Samsung’s consolidated sales are expected to be around 50 trillion won (~$44.09 billion), with operating profits at 9.9 trillion won (~$8.73 billion). To give this some context, this would become Samsung’s second highest quarterly operating profit ever, beaten only by its 10.16 trillion won (~$9.34 billion) in Q3 of 2013.
Samsung’s Q1 earnings last year, meanwhile, stood at 49.78 trillion won (~$43.90 billion), with a 6.68 trillion won (~$5.89 billion) operating profit.
This means Samsung may have achieved that almost 50 percent operating profit increase despite its Q4 2016 Galaxy Note flagship being dropped, the Galaxy S7 coming in Q1 last year (just) and the Galaxy S8 coming in Q2 this year, and its boss being recently arrested.
Late sales of Samsung’s Galaxy S7 and S7 Edge might have gone some way to stemming the Galaxy Note 7’s shortfall, but it’s Samsung’s semiconductor business that’s been bringing home the most bacon recently: rising price and demand for DRAM and NAND flash have sent its profits soaring.
Samsung will deliver the official results later this month.