Samsung became the world's most profitable tech company in the second quarter of this year. While some analysts expected the momentum to slow down, that might not be the case. The Samsung Q3 2017 earnings guidance has been released today and it predicts record profits for the second quarter straight.
Samsung reported 61 trillion won or $54.7 billion in revenue in Q2 2017. The operating profit came in at 14.7 trillion won or $12.67 billion, a whopping 72.7 percent surge compared to Q2 2016. Samsung earned more profit in Q2 2017 than Facebook, Amazon, Netflix and Google did in Q1 2017 combined. The company was on track to break its annual profit record.
Samsung Q3 2017 Earnings Guidance
Samsung is predicting revenues of 62 trillion won or $54.9 billion for the third quarter of this year. It also expects to post 14.5 trillion won or $12.8 billion won in profit. It would represent an impressive surge in operating profit of 170 percent compared to Q3 2016.
The Samsung Q3 2017 earnings guidance is largely in line with analyst estimates. The street already expects Samsung to post record profits for the second quarter straight. It goes to show that Samsung's semiconductor business has maintained momentum as it really has turned into a cash cow for the conglomerate.
The company's mobile business will have padded the bottom line as well since the Galaxy Note 8 has been very well received.
