Samsung estimates record $9.4 billion in profit for latest fiscal quarter
Samsung has just announced its earnings guidance for the third quarter of 2013, and it looks like records will be broken yet again. The company is estimating approximately 59 trillion won (around $53.9 billion) in total revenue, with operating profit coming in at about 10.1 trillion won (roughly $9.4 billion). Should the numbers prove correct — and Samsung has historically been extremely accurate when it comes to its estimates — it would be an increase over the 9.53 trillion won (around $8.5 billion) in operating profit and 57.46 trillion won (about $51 billion) in sales it reported the previous quarter.
It's an even bigger increase when compared to the same time last year, when Samsung reported 52.18 trillion won ($48.5 billion) in sales and 8.06 trillion won ($7.5 billion) in profit. That's a year-over-year increase in revenue of over 13 percent. Last quarter investors were a bit underwhelmed by Samsung's results, voicing concerns that growth in the high-end smartphone market could hinder future growth. There's no sales figures available for this more quarter yet, but when they final numbers are released smartphone sales will no doubt be an area of intense interest for those looking to determine whether Samsung can maintain its current pace.