Samsung predicting record profits for third quarter

Yesterday HTC released earnings guidance revealing the company rode their partnership with Google for the new Pixel 2 device to a rare positive quarter financially. For Samsung, the company has been on a roll recently, much of it thanks to their diversification though solid product releases this year have certainly helped. After a strong second quarter that produced record profits for the company, Samsung managed to follow that up with yet another record-breaking quarter according to their latest earnings guidance released today.

Samsung reports that they achieved 62 Trillion KRW ($55.2 Billion USD) in revenues during the third quarter resulting in operating profit of 14.5 Trillion KRW ($12.9 Billion USD). That is a six percent increase in revenues compared to the prior quarter and an eight percent improvement in operating profit. Year over year, Samsung will be posting a 15 percent increase in revenues and a whopping 148 percent increase in operating profit.

Analysts were generally expecting Samsung to continue their recent trend of record-setting profits. Much of the positive outlook is based on the companies moves to improve and expand their semiconductor business. Samsung has positioned itself to be a major provider not only for itself, but for many of its competitors in the electronics business.

source: Samsung

About the Author: Jeff Causey

Raised in North Carolina, Jeff Causey is a licensed CPA in North Carolina. Jeff's past Android devices include an HTC EVO, a Samsung Note II, and an LG G3, and a Motorola Moto X Pure Edition along with a Samsung Galaxy Tablet 10.1. He currently uses a Samsung Galaxy S8 and (very rarely) a Nexus 7 (2013). He is also using a Verizon-branded Motorola Moto Z Play Droid supplied by his job. Jeff used to have a pair of Google Glass and a Moto 360 Sport in his stable of gadgets. Unfortunately, his wife and kids have all drunk the Apple Kool-Aid and have i-devices. Life at home often includes demonstrations of the superiority of his Android based devices. In his free time, Jeff is active in his church, a local MINI Cooper car club, and his daughter's soccer club. Jeff is married, has three kids, and a golden retriever.