Samsung guidance points to record profits in Q3

Three months ago Samsung posted record-breaking finacial results; now the Korean company is heading to an even more successful quarter. The preliminary guidance shows sales around KRW61-63 trillion ($55 billion) and the operating profit is expected to be around KRW14.5 trillion ($12.87 billion).

Samsung said they expected a similar outcome back in July. One of the driving forces is the deal with Apple and the shipments of OLED panels for the iPhone X.

The estimates for Q3 are higher than the Q2 2017 results when sales amounted for KRW61 trillion ($54.7 billion), while the operating profit was KRW14.07 trillion ($12.6 billion).

Looking back at the July-September period of 2016, sales was “only” KRW47.82 trillion or around $42.4 billion while the operating profit was at one-third of the currently expected amount and was just KRW5.2 trillion ($4.6 billion).

The detailed audited results should come by the end of the month.

Source