Samsung predicts record profits for second straight quarter
Samsung Electronics’ earnings guidance for the third quarter of 2017 is out, and it’s looking like another record for the Korean giant. The company expects to have made around 14.5 trillion won (~$12.8 billion) in operating profit off 62 trillion won (~$54.7 billion) in revenue; last quarter it made 14.1 trillion won, its highest ever quarterly figure.
The earnings would represent a year-on-year revenue increase of approximately 28 percent and a huge operating profit jump of more than 170 percent. Of course, Samsung took a major hit a year ago from the Galaxy Note 7 recall debacle, but today’s figures — and the well-received Galaxy Note 8 — suggest the company is largely out of those woods. Samsung will issue more financial details with...