frankgands: Samsung Q1 2013 profit guidance: huge sales, huge profits

Thursday, 4 April 2013

Samsung Q1 2013 profit guidance: huge sales, huge profits

Samsung Logo

Over 68 million phones sold; 53-percent increase in operating profits for the quarter

Ahead of its official Q1 2013 earnings release on April 26th, Samsung is releasing its profit guidance -- aka expectations and rough numbers -- for the quarter, and things are looking pretty good for the South Korean smart phone behemoth. Increased sales of mid-range handsets worldwide contributed to an estimate of 68-70 million phones sold in the quarter, which surprisingly is an increase over the holiday quarter's sales of 63 million. Sales reached an estimated $46.2 billion, leading to operating profits of $7.7 billion -- up 53-percent.

These are of course estimates and analyst commentary on them, but things are looking just as promising as previous quarters for Samsung. In a quarter that has historically not been one for high sales or profits in the consumer electronics space, it has performed extremely well. We'll of course be breaking down the true earnings numbers when that official report comes later this month.

Source: Reuters