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.