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July 7, 2017

Samsung forecasts record-breaking profits for the second quarter in a row

by John_A

Samsung is set for its best-ever quarter.

Samsung’s stellar performance in 2017 is set to continue into the second quarter. After recording the best-ever first quarter earnings earlier this year, the company is now forecasting that Qits Q2 profits will be the highest recorded in its history. Samsung posted profits of $8.8 billion on revenues of $44.7 billion in Q1 2017, and the manufacturer is now estimating it’ll make a profit of $12.2 billion on sales of $52 billion in Q2.

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Samsung’s most profitable quarter to date is Q3 2013, where the South Korean company managed $9.6 billion in operating profits. Back then, a bulk of the profits were from the mobile unit, but this time around, Samsung’s chip division is likely contributing to a majority of the profits. In fact, Samsung is set to surpass Intel as the world’s largest semiconductor in terms of quarterly sales. The company is set to invest $18.6 billion into expanding its memory and display manufacturing facilities.

Alongside a strong showing in the semiconductor space, Samsung has recorded healthy global sales of the Galaxy S8 and S8+ series. The company will release the full earnings results later this month.

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