Galaxy S7 may have helped Samsung earnings for Q1
One chaebol’s doing better than it did last year and that’s Samsung.
It made the equivalent of $42.5 billion in sales for the quarter ending April 1, up about four percent from last year. Filing that down to an operating profit, it came up to about $5.7 billion, beating financiers’ bets around $4.86 billion.
Some of that bump may be thanks to some nice Galaxy S7 and S7 edge sales. Who knew bringing back popular features like a microSD slot and water resistance would reflect positively on the balance sheet!
Well, we don’t exactly know that as Samsung only released guidance for its earnings, — a full report will be available later this month — though analysts are estimating unit sales of 10 million, above the initial forecasts of 7 million.