Samsung's Q2 2016 Earnings Guidance is out, profits soar
Samsung's has released its Earnings Guidance for Q2 2016 for investors, media and analysts to use before the final audited results become available month.
The company expects consolidates sales to be $43.5 billion (KRW 50 trillion), while operating profit will amount to roughly $7 billion (KRW 8.1 trillion).
The expectations paint a better quarter compared to the previous one. Then, the company reported revenue of $43.06 billion (KRW 49.78 trillion) and operating profit of $5.77 billion (KRW 6.68 trillion).
Тhis would be a 17.4% rise in profits for the company compared to the previous year. This would also make it the highest quarter profits in more than 2 years. Analysts believe the Galaxy S7 smartphone sales and bigger profit margins from a streamlined product lineup are the culprits.
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