DEAL Galaxy S24 FE, Galaxy Watch 7. Subscribe today and be the first to learn about One 7 beta!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
News For You
Notifications

Samsung’s Q3 2017 earnings may beat expectations

Business
By 

Last updated: September 12th, 2017 at 09:09 UTC+02:00

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 Business Earnings
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Samsung’s profit rises 14.5x amid AI chip boom

Samsung’s profit rises 14.5x amid AI chip boom

After announcing its revenue estimates earlier this month, Samsung has announced its financial results for the second quarter of this year. The South Korean firm reported a 23.42% rise in revenue and a meteoric rise of 1,458% in operating profit in Q2 2024 compared to last year. These better-than-expected numbers are due to the rise […]

  • By Asif Iqbal Shaik
  • 3 months ago
Samsung’s profit surged 15x in Q2 2024, thanks to the AI boom

Samsung’s profit surged 15x in Q2 2024, thanks to the AI boom

Samsung has had a rough couple of years, but the company has emerged with full force to ride the AI boom. The company revealed that it expects its Q2 2024 operating profit to surge 15x, thanks to strong sales of semiconductor chips. These figures are better than market estimates. Samsung's Q2 2024 profit could be […]

  • By Asif Iqbal Shaik
  • 4 months ago
Samsung’s battery sales decline despite higher EV business

Samsung’s battery sales decline despite higher EV business

Samsung has a battery manufacturing division called Samsung SDI, which makes batteries for products ranging from smartphones to EVs. Earlier today, Samsung SDI announced its financial results for Q1 2024. The company's sales have fallen despite higher EV business, but the company vows to become a “global top-tier company by 2030.” Samsung SDI profits fall […]

  • By Asif Iqbal Shaik
  • 6 months ago
Samsung profit jumps 933% to $4.8 billion in Q1 2024, beating estimates

Samsung profit jumps 933% to $4.8 billion in Q1 2024, beating estimates

Samsung has revealed its financial results for the first quarter of this year, a few weeks after revealing revenue estimates. The company revealed that its revenue rose 13% compared to Q1 2023, while its profit skyrocketed nearly 10x (933%) compared to the year earlier. Samsung's profit jumps nearly 10x in Q1 2024, thanks to strong […]

  • By Asif Iqbal Shaik
  • 6 months ago
Samsung’s profit rises by 931% in Q1 2024 as chip sales recover

Samsung’s profit rises by 931% in Q1 2024 as chip sales recover

Samsung has been struggling over the past couple of years, especially due to its most important product: memory chips. However, things now seem to be improving financially, as the company has reported a huge rise in its profit. Earlier today, Samsung revealed its earnings guidance for Q1 2024. Samsung's profit rises 931% on the back […]

  • By Asif Iqbal Shaik
  • 7 months ago
Samsung expects its 2023 profit to drop by 85% compared to last year

Samsung expects its 2023 profit to drop by 85% compared to last year

Last year was extremely challenging for Samsung, as smartphone and semiconductor chip sales were quite low. Those are the two most important product categories for Samsung. However, the company and even analysts expect this new year to be much better as sales are recovering. Today, Samsung Electronics posted its earnings guidance for the fourth quarter […]

  • By Asif Iqbal Shaik
  • 10 months ago