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.

Source: Samsung
Via: Korea Herald

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.