Samsung’s Q1 expectations get upgraded, expects to make $5.1 billion in profit
Samsung has been through rough times the past couple of years (by their standard, anyway), but it seems they might finally be turning the ship around. Analysts have upgraded Samsung’s Q1 earnings expectations after some early success with the Samsung Galaxy S7 and S7 Edge launches.
The company is set to make $5.14 billion in Q1, a nice bump from the $3.4 billion they were expecting. That mark is just a hair over what they made the same quarter a year prior, to boot.
The optimism seems to stem from early success of Samsung’s new Galaxy S7 devices. The company is said to have come out of the starting gate blazing with 10 million units shipped globally since the 20 days of its availability.
Surely that’s a welcome change of pace for the company which has suffered in the not-too-distant past, causing a shuffle of its executive tree and a culture change. It doesn’t hurt that Samsung took one of the best devices from 2016 and improved mostly everything that people didn’t like about the previous offerings.
Of course, the mobile division isn’t all Samsung has to hang its hat on. Appliances, TV, display and semiconductor businesses are sure to be helping prop those coffers up, but for the first time in a while it sounds like the mobile division isn’t being looked at as a liability. Let’s see how things hum along as the year moves on. Samsung is expected to report preliminary Q1 earnings April 7th.