Samsung’s earnings guidance for Q3 2018 reveals another record profit

Samsung has posted its earnings guidance for the third quarter of 2018, which reveals that it will post an all time high 17.5 (17.4 ~ 17.6) trillion Korean won ($15.5 billion approx.) in operating profits for the quarter, 20% up from a year earlier. This will beat the 15.64 trillion won ($14.4 billion) profit that it had posted in Q1 2018. The main reason for jump in profits is likely to be due to strong memory chip sales, which account for nearly 80% of Samsung’s operating profit. Even though its profits fell in Q2, we are yet to see if Samsung will continue its profit streak in fourth quarter from continued high demand for semiconductors. In the third quarter, revenue will rise about 4.7% from a year earlier to 65 (64 ~ 66) trillion Korean won, says Samsung’s forecast. Samsung did not announce the performance of each business division. We should know the exact profit amount and division-wise results when Samsung releases its full earnings results later this month. Source