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Samsung predicts that it had a killer third quarter, shares jump accordingly
It’s been no secret that all Android manufacturers, even Samsung, have been struggling to turn a profit in the premium flagship category, a category that has traditionally netted companies the most profit. After some very average, even lackluster, financial quarters, it looks like Samsung is about the return to the major profits region, if only for a quarter – the Korean manufacturer has revised its forecast for the third quarter, predicting it will make an operating profit of 7.3 trillion won (or about $6.3 billion USD) which is 80% year-on-year.
The news is so good that it has also energized investors, seeing the company’s shares rocket 8.7% higher, its highest gain in a single day in almost 7 years. While it is still down 5.7% for the year, things could finally be looking up for Samsung. Analysts suggest that this turnaround is mostly thanks to revenue, not in smartphones, but in chip and display manufacturing. Naturally, launching the Galaxy Note 5 and Galaxy S6 Edge+ a month earlier than expected will more than likely have helped Samsung’s revenue and profits as well.
What do you think about Samsung’s predicted financial performance in the third quarter? Let us know your thoughts in the comments below.
Source: Samsung via Reuters, engadget
The post Samsung predicts that it had a killer third quarter, shares jump accordingly appeared first on AndroidSPIN.
Source: http://androidspin.com/2015/10/07/samsung-predicts-that-it-had-a-killer-third-quarter-shares-jump-accordingly/
