Samsung predicts highest quarterly profit in its history

Samsung expects to rake in a considerable sum for its second quarter operating profit and sales revenues.

@DeekeTweak
Published Sat, Jul 8 2017 3:22 PM CDT   |   Updated Tue, Nov 3 2020 11:54 AM CST

Samsung today announced earnings guidance for its Q2 2017 timeline, showing strong quarter-over-quarter growth in both total sales and operating profit, and the highest operating profits in the company's history.

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Mobile juggernaut Samsung's Q2 2017 guidance forecasts $52 billion (60 trillion Korean won) in net sales during the second quarter, and a tremendous $12.13 billion (14 trillion Korean won) in operating profit, with both respective revenues recorded as median forecasts. Analysts note that this operating income is more than the combined Q1 quarterly earnings of titans Facebook, Amazon, Netflix and Google.

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Samsung's second quarter forecasts sees both net sales and operating income up quarter-over-quarter and year-over-year. Net sales are predicted to be 18.69% quarter-over-quarter and 17.78% year-over-year, whereas operating profit is up an incredible 41.41% QoQ and an astronomical 71.9% year-over-year.

Samsung is slated to release its Q2 2017 earnings on July 27.

The official Q2 2017 range can be found below:

  • Sales: 59 ~ 61 trillion Korean won
  • Operating Profit: 13.9 ~ 14.1 trillion Korean won
NEWS SOURCE:news.samsung.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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