Samsung’s Q3 2017 earnings may beat expectations
It has a very good year for Samsung in terms of financials, especially after what happened last year with the Galaxy Note 7 and its heir apparent’s arrest on bribery charges earlier this year. The company leapfrogged Apple last quarter in terms of earnings, and it is now being reporeted that the company’s Q3 2017 earnings may beat market expectations and post earnings growth.
Industry insiders had said earlier that Samsung could experience almost no growth this quarter since it achieved unprecedented results in the last quarter with an operating profit of KRW 61 trillion (about $12.38 billion). Even Samsung had said that its earnings could fall in the following three months. However, industry trackers have now started predicting that earnings may top initial estimates due to sales of OLED screens to Apple for the iPhone 8, which is expected to be unveiled tomorrow.
Kim Sun-woo, an analyst with Meritz Securities, said that Samsung’s sales could reach KRW 64.84 trillion and an operating profit of KRW 14.34 trillion for Q3 2017. “Samsung’s cautious guidance report reflects underlying uncertainties in the market, yet strong demand in computer chips and stable profits being generated in the smartphone market are bolstering expectations,” Kim said. This view was echoes by eBest Investment Securities Co.
The reasons provided by eBest Investment Securities Co.’s market expert Eo Kyu-jin were higher pries of RAM and NAND flash chips. Samsung just received record pre-orders for the Galaxy Note 8 in the US.Via