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Samsung projecting it made $8.33B in profit in Q2

Posted: , by Michael H.

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Samsung projecting it made $8.33B in profit in Q2
Q2 looks to be a record breaking quarter for Samsung, and we expect that Q2 will continue to be a big quarter for the Korean company, because that's when the new Galaxy S comes out, and a new Galaxy S phone is basically like printing money for Samsung. The official numbers don't come until the end of the month, but early projections from Samsung are saying that the official report could see a record $8.33 billion in profit for Q2.

Of course, despite the fact that Samsung is estimating a record quarter, this is actually disappointing news because analysts hate being wrong. Reuters had polled 43 analysts on what they expected from Samsung's Q2 report, and the average profit forecast from those analysts was 10.16 trillion won (~$8.9 billion). Samsung's estimate came in at just 9.5 trillion won ($8.3 billion), so now analysts are concerned about the growth of the smartphone market. 

To this, we have to just call out analysts on being ridiculous. Whatever analysts project means nothing to anyone except analysts. So, if they are wrong, it should be expected since they aren't working with real numbers but estimations based on other estimations. 

If Samsung's numbers hold true, it will mark an almost $2 billion increase from Q1's $6.4 billion profit, and a $3 billion year-on-year improvement over Q2 of 2012. That's solid growth, regardless of what the analysts expected. The official numbers from Samsung are planned to be announced July 26th.

source: Reuters

11 Comments
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posted on 04 Jul 2013, 21:47 1

1. james004 (Posts: 471; Member since: 15 May 2013)


samsung, the next apple.

posted on 04 Jul 2013, 21:59 13

2. mas11 (Posts: 1028; Member since: 30 Mar 2012)


Profit wise, but they will continue to release many phones on an open OS.

posted on 04 Jul 2013, 21:59 4

3. InspectorGadget80 (Posts: 6408; Member since: 26 Mar 2011)


soon Samsung will make a profit as big as Apple.

posted on 04 Jul 2013, 23:02 7

4. piyath (Posts: 150; Member since: 23 Mar 2012)


Well done Sammy!!!

posted on 05 Jul 2013, 01:29 2

5. Topcat488 (Posts: 1141; Member since: 29 Sep 2012)


To this, we have to just call out analysts on being ridiculous. it should be expected since they aren't working with real numbers but estimations based on other estimations.

I agree with Michael H. 100%.

posted on 05 Jul 2013, 02:20 1

6. SprintGuy26 (Posts: 66; Member since: 21 Mar 2011)


love the picture they used...watching futurama right now!

posted on 05 Jul 2013, 03:23 2

7. Tsepz_GP (Posts: 819; Member since: 12 Apr 2012)


This is excellent!They are still headed for a record quarter! :)

posted on 05 Jul 2013, 03:45 1

8. tedkord (Posts: 4718; Member since: 17 Jun 2009)


Whether its Apple or Samsung, the stock market has zero connection to reality. It's 100% speculation based.

posted on 05 Jul 2013, 05:16

10. darkkjedii (Posts: 11131; Member since: 05 Feb 2011)


Ted as a the non fanboy you are, you as well as I know Sammy fanboys will never buy that. Somehow they think they're part of this Samsung wolfpack, cuz they have a Sammy device. Their only interest, and knowledge in the stock market is seeing if apples or Sammy's gained or lost.

posted on 05 Jul 2013, 04:32 1

9. Jason2k13 (Posts: 641; Member since: 28 Mar 2013)


Those analysts are useless, they create bad publicity and create more fanboys. I remember when they said samsung was losing profit and marketshare, then all the fanboys believed it and laughed at samsung. When in reality, samsung is earning more profit in 2013 compared to 2012.

posted on 05 Jul 2013, 06:26

11. livyatan (Posts: 691; Member since: 19 Jun 2013)


8.3 Billion is actually MORE THAN APPLE will post, (I excpect 7,5 billion for them)

Still, both companies are raking in an unprecedented amounts of cash, and ridiculously enough , both see their share prices go down.

Don't those idiotic analysts know the first thing about the world??
GROWTH CAN'T BE LIMITLESS

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