Though details were scarce, it looks like Samsung just blew the doors off its earnings in the second quarter.
The company issued a slim earnings guidance announcement today that said it will report $12.1 billion in profit on $52 billion in revenues for the three months ending June 30. That would represent a jump of 18 percent in revenues compared to the same period a year ago, and an increase of 72 percent for profits.
Those profits would be the largest in the company’s history. However, Samsung notes that these numbers remain estimates and represent the median of a possible range of actual figures.
Still, those ranges are fairly narrow, with the high end possibly hitting $52.85 billion and the low coming in at $51.12 billion. Anything in the ranges for profits and revenues would represent massive gains for Samsung.
The bigger question is why. The statement doesn’t offer any detail as to which part of Samsung’s far-flung electronics empire was responsible for the surge in growth. For that, we’ll have to wait until later this month for the official earnings release.
Samsung has posted a couple of solid quarters of earnings growth, a sign the company had weathered the exploding Galaxy Note7 debacle last year. In recent months, the company had been buoyed by the strength of its components business.
Of course, it’s also worth noting that the new Galaxy S8 smartphone was released in this quarter. Many will be watching to see whether that new device played a role in the strong earnings and whether Samsung has regained its footing against Apple and the host of Chinese competitors that have been nibbling away at its market leadership.