Samsung projecting it made $8.33B in profit in Q2

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

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11 Comments

1. james004

Posts: 486; Member since: May 15, 2013

samsung, the next apple.

2. mas11

Posts: 1034; Member since: Mar 30, 2012

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

3. InspectorGadget80 unregistered

soon Samsung will make a profit as big as Apple.

4. piyath

Posts: 2445; Member since: Mar 23, 2012

Well done Sammy!!!

5. Topcat488

Posts: 1412; Member since: Sep 29, 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%.

6. SprintGuy26

Posts: 229; Member since: Mar 21, 2011

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

7. Tsepz_GP

Posts: 1156; Member since: Apr 12, 2012

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

8. tedkord

Posts: 17189; Member since: Jun 17, 2009

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

10. darkkjedii

Posts: 30886; Member since: Feb 05, 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.

9. Jason2k13

Posts: 1450; Member since: Mar 28, 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.

11. livyatan

Posts: 867; Member since: Jun 19, 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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