Samsung predicts highest quarterly profit in its history

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