Samsung Q3 2016 Earnings Guidance Beats Estimates

Samsung is one of the biggest smartphone makers in the world, but the company recently suffered a blow with the recall of its latest flagship smartphone, the Galaxy Note 7. The South Korean company recently posted its Q3 earnings and it seems that the recall procedure didn’t have a major financial impact on Samsung.

Samsung’s earnings guidance for the third quarter of 2016 shows that the consolidated sales are expected to reach about $44 billion, while operating profits may record $7 billion compared to an estimated $66.6 billion.

It seems that the Galaxy Note 7 didn’t have a major impact on the company’s earnings for the third quarter of this year. But Samsung isn’t producing just smartphones; it also manufactures chips and displays. Samsung’s other divisions helped soften the blow so that the company managed to report higher operating profits by 5.6%.

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