Samsung predicts highest ever profit in its history

Photo by James Bareham / The Verge

Samsung believes that the second quarter of 2017 was the best in the company’s history. According to earnings guidance issued today, Samsung expects to have made about 14 trillion won ($12.1 billion) in profit off 60 trillion won ($52 billion) in revenue; that’s significantly beyond the previous highest profit of 10.16 trillion won set in the third quarter of 2013. Revenue is expected to be up 18 percent year on year, while profit should be up by 72 percent.

The figures follow two quarters of similarly positive results, which both saw Samsung post its biggest profit in more than three years. Samsung hasn’t offered any more details on the current quarter yet — they’ll come with the full earnings report later this month. But recently the company has said its display and components divisions are driving profit growth, and the most recent quarter likely also received a boost from the Galaxy S8.

Source:TheVerge

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