Samsung reports Q2 2016 profits: going strong!

Samsung reports Q2 2016 profits: going strong!
After a few weeks of analysts and Samsung itself posting very positive predictions for the company's profits of Q2 2016, Sammy has finally reported the official numbers, and the company is definitely going strong. Initially, market watchers expected a $6.8 billion in operating profits for the company. Then, Samsung upped the ante by posting its own expectations of about $6.94 billion.

Today's report tops both predictions – Samsung's operating profits for the second quarter of 2016 were $7.2 billion — a year-over-year increase of $1.1 billion. The company's revenue was about $45.3 billion, marking a YoY growth of around $2.1 billion.

Part of the company's stellar performance can be attributed to the Galaxy S7 and S7 edge, which are largely favored by users and reviewers worldwide for their stellar looks, water-resistance, performance, and the return of the microSD memory expansion slot. The mobile division reported a slight decrease in revenue, but still stronger operating profits — $3.84 billion, which is around $382 million more than last year's second quarter.

However, Samsung has a few more businesses that are driving profits forward – semiconductors and display technologies have been going strong as well. A lot of manufacturers go to Samsung for their AMOLED panels, and many contract it for the supply of phone internals, such as SoCs — even Qualcomm developed the Snapdragon 820 in close partnership with Sammy. The company also did well in other branches of consumer electronics sector, such as digital appliances, printing solutions, and health and medical equipment.

Samsung expects that it will be going strong through the second half of this year as well and expects its upcoming Galaxy Note 7 phablet to drive the profits of the mobile division even further. However, the report also says that the company will be looking to focus on a “mix of products”, in order to increase in presence on the market.


source: Sammyhub

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29 Comments

1. dubaiboy78

Posts: 442; Member since: Sep 19, 2014

well done sammy!

2. fyah_king unregistered

And Android OEMs doesn't not make money they say.lol

10. phonearenarocks

Posts: 606; Member since: Mar 26, 2015

I demand BobbyBuster here.

12. nctx77

Posts: 2540; Member since: Sep 03, 2013

This is for the entire business, not just for phones lol! They wear many hats.

15. meanestgenius

Posts: 21784; Member since: May 28, 2014

Apples profits from their earnings report is for their entire business as well, not just their phones. They just don't wear as many hats as Samsung does. Just sayin'.

22. phonearenarocks

Posts: 606; Member since: Mar 26, 2015

Yeah you are right, a major chunk of their revenue comes from their App Store and Apple Music.

25. fyah_king unregistered

I meant to say doesn't and not doesn't not.lol

27. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Well Samsung seems to be the only Android OEM who isn't in the red. But I think the numbers show, they would be in the red if they only sold phones. Because they make displays, chips, ram, storage, models, cpu's, gpus and more; they don't have to just rely on phone sales and that is why they make so much more money. But selling 350M Android phones in a year certainly can't be left out.

3. Barney_stinson

Posts: 672; Member since: May 30, 2016

Waiting for a price drop!

4. YOURDADkid unregistered

Good Job Samsung!! Where are iSheeps Hello Hello Hello??? No comments No trolling Hmmm ?????????????

9. BradyCrack

Posts: 835; Member since: Dec 29, 2015

Um, no.

14. ctdog4748

Posts: 797; Member since: Mar 05, 2016

Ummmmm, you do know that Apple still had a more profitable quarter than Samsung did, correct? I mean, you do know that, right??? Hello, iSheep here awaiting your answer!

24. Techist

Posts: 311; Member since: Jan 27, 2015

Slightly more: $7.8 billion vs $7.2 billion. The issue here is iSheep claims that no one makes money with Android, or that Apple makes 90% or more of the profits in smartphones, claims that have been consistently debunked by actual results.

28. ctdog4748

Posts: 797; Member since: Mar 05, 2016

You are soooooo cute!!!! You do realize that the entire Samsung conglomerate has less market value and profit than Apple, don't you??

29. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Why does that matter?

21. meanestgenius

Posts: 21784; Member since: May 28, 2014

You spoke^^to soon. It's a Samsung article, but you speak of Apple, Apple fans will appear.

5. ebilcake

Posts: 1227; Member since: Jul 16, 2016

Deserved, just a shame the prices keep increasing.

6. AgentZero

Posts: 314; Member since: Aug 16, 2014

Good job samsung . But those profits will fall if they dont go all out on the note

7. Macready

Posts: 1817; Member since: Dec 08, 2014

"The mobile division reported a slight decrease in revenue" Shoddy PA reporting again. From 26.06 to 26.56 trillion won, is a 2% INcrease, not decrease.

17. Amroze

Posts: 597; Member since: Jul 04, 2016

Worship of Apple and only Apple is keeping the site floating. Bias against Android.

8. gadgeteer

Posts: 45; Member since: Sep 06, 2014

Fantastic. Good to see real innovation paying off. The bully of Cupertino is going down, Carpooling or not.

11. Amroze

Posts: 597; Member since: Jul 04, 2016

Every iProducts are declining. Which is really good news. Time to innovate Apple.

13. ctdog4748

Posts: 797; Member since: Mar 05, 2016

Even with declining sales, it's Apple FTW. Check it out Sammy fankids; http://www.wsj.com/articles/apple-earnings-fall-on-iphone-slump-1469565018

16. meanestgenius

Posts: 21784; Member since: May 28, 2014

So you posted that just to troll? Because it has ZERO to do with this article.

18. ctdog4748

Posts: 797; Member since: Mar 05, 2016

So are you calling everyone else out that trolled Apple in regards to the article, or just me for bursting your Sammy ballon?

19. meanestgenius

Posts: 21784; Member since: May 28, 2014

I'm not a Samsung fan in the least, lol. Nice try, though. But YOU are an Apple fan trolling a Samsung article that has nothing to with Apple. Stop deflecting from the fact that you're trolling. You sound just like a certain someone who always has his body ready for Apple.

20. John-Knotts

Posts: 380; Member since: Feb 28, 2015

Jesus man, grow up

23. YOURDADkid unregistered

I am deleting my account as I can't be on Website OR write something on website where there are terrorists and their supporters!! God bless you and Stop terrorism and save Humanity

26. adrianzka

Posts: 64; Member since: Apr 25, 2013

Wait, what?

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