Samsung foresees strong third quarter financial results, no traces of sluggish Q2

Samsung foresees strong third quarter financial results, no traces of sluggish Q2
Samsung Electronics has released its regular financial guidance ahead of the Q3 earnings report that’s expected later this month. The guidance is meant to give a general idea how the company did for any given yearly quarter and compares the results to other relevant ones.

Q2 of 2018 wasn’t great for Samsung, with Galaxy S9 sales lower than expected, but Q3 saw the release of the company’s Galaxy Note 9, a flagship smartphone with a $1000+ price tag. The Note 9 was well received by consumers and experts alike and it seems that translated well into sales for Samsung. Of course, Samsung offers a wide range of electronic devices, but few have a strong financial impact like the one from a highly anticipated smartphone.

According to the guidance, Samsung Electronics expects consolidated sales for the third quarter of 2018 to be around $57.6 billion. This is more than a 10% increase over Q2 of 2018 and an almost 5% bump over Q3 of 2017 when the figure was $54.9 billion.

In the profits department things are looking even better. Consolidated profits are predicted to be close to $15.5 billion, a good 18% more than this year’s previous quarter and close to 20% more than the results for Q3 last year.

Samsung appears to have gained back the lost momentum and even improved its results significantly compared to 2017. With the holiday season approaching and new smartphone releases still to come, 2018 might go down as one of the most successful years for the company.

source: Samsung

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