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, 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 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 an active runner usually training for his next marathon, owns a MINI Cooper, and plays Dungeons & Dragons. Jeff has three mostly grown kids and a golden retriever.