Samsung predicts its Q2 earnings for 2016 will be strongest in two yearsBy Robin-Leigh Chetty 7 July 2016 | Categories: news
The second quarter earnings reports for 2016 are due for release from every major tech manufacturer, and Samsung has decided to get ahead of the pack by listing its guidance predictions. These forecasts are quite common from the South Korean company, as they detail expected results, whether they be promising or lacklustre. For Q2 2016, the outlook is very positive indeed, with Samsung going as far as stating that it will be one of their strongest quarters for more than two years.
While these figures are simply estimates, they expect to yield an operational profit of nearly $7 billion, with $43 billion in total revenue. These numbers are taken from April to June of this year, and if accurate, would represent a 41% increase year-on-year, and 3% rise in sales.
Despite being preliminary predictions, Samsung's guidance reports have proved rather accurate in the past, and we expect this quarter to be no different. The South Korean manufacturer has not yet cited the reason for the substantial increase in profits, but the Galaxy S7 and S7 edge will likely be credited when the actual Q2 results are released in a few days time.
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