The South Korean electronics giant, Samsung, has posted a record quarterly profit despite being plagued by scandals in the recent past.
The recall of their 2016 flagship, the Galaxy Note 7, and the prosecution of de facto leader Jay Y. Lee on bribery charges, didn’t stop Samsung from raking in a record US $54.8 billion in quarterly revenue and an operating profit of US $12.5 billion. Revenue figure rose by 20 per cent year-on-year but net-profit rose by a staggering 89 per cent in the last quarter! A lot of the credit has to go the strong sales of their Galaxy S8 and S8+ devices and their component businesses.
Samsung’s profits have seen a steady drop in the past few quarters. The Korean electronic giant has released the figures for the period from January to March, and there is a 30.5 percent dip in the profits for the company. But the executives at Samsung might be satisfied with the results as the dip is lower than previous quarters.
Samsung said that it expected an earning of 5.9 trillion Korean won ($5.4 billion) in operating profits for the quarter that ended on March 31. The year 2014 was perhaps the worst year for Samsung where the company saw a fall of about 60% in profits over the last quarter of the year.
Google has released its Q2 2013 earnings today and, though they appear strong in absolutes, they missed analysts’ expectations by a fairly wide margin.
The company posted $14.1 billion in revenue, up slightly from last quarter and an improvement of 20% from the previous quarter last year, but analysts were expecting $14.4 billion. Net income was solid at $3.23 billion and $9.56 per share but, again, they were below expectations.
Motorola maintained its reputation as an anchor weighing down the otherwise-profitable Google, as the hardware division posted a quarterly loss of $342 [...]
Samsung has released its estimated earnings for Q2 2013, with a full announcement scheduled for later this month. The company estimates profits of $8.33 billion (9.5 trillion won), up nearly $2 billion over Q1’s $6.4 billion profit.
This would give the Korean company a 47 percent year-on-year increase in profit from a revised KRW6.46 trillion in Q2 2012 – slowing from the 54 percent growth it posted in Q1 2013 – and a 20 percent year-on-year increase in revenue from KRW47.60 trillion during the same period.
Analysts had expected a figure of more than 10 trillion won, and Samsung [...]
Google presented its Q1 2013 earnings today and, overall, the company looks to be in good shape. Revenues of $13.97 billion were down slightly from the always-hot previous quarter, but that number was in line with analysts’ expectations. More impressive was the $3.35 billion net income, which was up over 30% from the same period a year ago.
Motorola Mobility continued to shed money, gross revenue of $1.02 billion and a net loss of $271 million. Patrick Pichette, Google’s CFO, said, ”We’re pleased with the velocity of change at Motorola Mobility. We’re excited about the future, but results will continue to be variable.” [...]