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Samsung Q2 2017 operating profit may beat every other company on the planet

Business
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Last updated: June 20th, 2017 at 23:15 UTC+02:00

There have already been many predictions from market analysts that the second quarter of this year is going to be a good one for Samsung. The company is expected to break its previous record of the highest operating profit ever in a single quarter. The latest predictions go so far as to suggest that Samsung’s Q2 2017 operating profit will beat every other company on the planet in this particular period of time.

Market analysts predict that Samsung’s Q2 2017 operating profit will be more than Apple’s. They are also predicting that the company will rake in more profit in this quarter than the likes of Facebook, Amazon, Netflix and Google.

Stock firms in South Korea are estimating Samsung’s operating profit for Q2 2017 to be around 13.1187 trillion won or $11.6 billion. There are not discounting the possibility of the final figure being even higher than this as the estimation of Samsung’s performance in this quarter continues to rise.

Some firms predict that the final number could be higher than $12.3 billion and that will be similar to the operating profits of Facebook, Amazon, Netflix and Google combined. The total operating profit of these four companies in Q1 2017 was close to $11.15 billion. Apple is predicted to post an operating profit of $10.55 billion during the same quarter.

Samsung’s semiconductor business is said to be the biggest contributor to these gains alongside rising demand in the display market. Samsung’s near monopoly in the small and medium-sized OLED panel market serves its interests well.

Since the Galaxy S8 came out towards the end of the quarter, Samsung’s smartphone business may not be the top contributing to its record-breaking quarterly operating profit.

The company will officially announce its earnings guidance for Q2 2017 in the coming weeks.

Via Business Samsung Electronics
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