Samsung once again forecasts record-breaking profits
Samsung forecasts an operating profit of $12.8 billion in Q3 2017.
Samsung Electronics is losing a CEO, but the company itself is riding a high. In its earnings guidance for the third quarter, Samsung says it recorded operating profit of $12.8 billion (14.5 trillion won) on sales of $54.7 billion (62 trillion won).
Samsung is set to record a revenue hike of 29% from the same period a year ago, with operating profits going up a massive 178%. The latest figures highlight a third straight quarter of record profits for Samsung. Back in Q1 2017, Samsung posted a profit of $9.9 billion, its best-ever first quarter, and followed it up with a Q2 profit of $12.5 billion, its most profitable quarter ever. That number is set to be eclipsed once again in Q3.
Strong sales of the Galaxy Note 8 — the device saw 850,000 pre-orders in South Korea — combined with an increase in demand for DRAM and NAND modules are the likely contributors to the record profit this quarter. We’ll know the division-wise breakdown once Samsung announces its earnings later this month.
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