Samsung looks to reverse mid-year dip with Q3 numbers

Q2 wasn’t exactly a party for Samsung, though it seems ready to correct the dip at the first possible opportunity.

Samsung Electronics has announced its earnings guidance for the third quarter of 2018, with consolidated sales coming in at 65 trillion Korean won (roughly $57.3 billion), up 5% year-on-year, and profits of 17.5 trillion won ($15.8 billion). The profits would represent a 20% uplift compared to the same period of 2017.

This is a much more positive return for the business compared to the second quarter of 2018. Three months ago the business reported sales of $52.1 billion, a decline of 4% year-on-year, though this was in-line with guidance offered in the weeks leading up to the earnings call.

During the earnings call, the downward dog resembling graph was blamed on a sluggish S9, though this might be partly due to the 5G euphoria. With the promise of 5G compatible phones in 2019, some users might be wary of purchasing a device which will become old news in a matter of months.

That said, the semiconductor business has been a very strong performer for Samsung through the last couple of quarters, and some might suspect this is the case once again. Full results are due to be released on October 31.