Samsung earnings guidance for Q1 2016 forecasts strong growth

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Last updated: April 7th, 2016 at 04:06 UTC+01:00

It was reported about a week ago that stellar performance of the Galaxy S7 and the Galaxy S7 edge would ensure that Samsung has a better first quarter of the year than previously expected. Some analysts later predicted that the company will miss expectations due to declining handset sales in China and losses for its display business potentially hitting $500 million. Samsung has just released its official earnings guidance for Q1 2016 which forecasts growth when compared to the same period last year.

Samsung’s earnings guidance suggests a consolidated operating profit of 6.6 trillion won or $5.7 billion. Compared to Q1 2015 this will be a solid increase of 10 percent. Consolidated sales are expected to come in at 49 trillion won or $42.3 billion, a slight increase over the 47.1 trillion won or $40.7 billion that it brought in as consolidated sales in Q1 2015. The figures are estimates of consolidated earnings, we’ll get to know the precise figures and be really certain of how Samsung performed in Q1 2016 when it reports the final earnings for the quarter later this month.

Source General Samsung
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