Things haven’t been that great for Samsung over the past few quarters, the company has seen a year-on-year profit decline for the last seven quarters straight so it’s about time that it posts some profit growth. In the earnings guidance released today the company predicts that it will post a major profit growth in Q3 2015 as opposed to the same time last year, it expects that operating profit will be nearly double of what it posted in Q3 2014.
Samsung predicts that it will post an operating profit of nearly 7.2 trillion won, that’s $6.29 billion, against the Q3 2014 operating profit of $3.9 billion. The prediction has been positively received by the market with Samsung shares surging in the aftermath of the earnings guidance.
The company also expects that it’s sales for the quarter will have reached nearly 52 trillion won or roughly $43.9 billion, it’s in line with expectations of many Wall Street analysts.
Today Samsung didn’t provide any commentary on the quarterly results but a full earnings report will be arriving in the next couple of weeks which will make it clear what exactly contributed to this much needed profit growth in Q3 2015.
Market watchers will certainly be looking closely at signs to see whether Samsung’s business really has improved or whether only a few factors contributed to this quarterly profit increase which the company may not be able to sustain in the following quarter.
Filed in . Read more about Samsung. Source: global.samsungtomorrow