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Samsung estimates record $5.9 billion in profit for Q2 2012

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Samsung is continuing its tradition of releasing estimates for its quarterly earnings ahead of the actual earnings, saying that it anticipates a consolidated operating profit of approximately 6.7 trillion Korean Won, or around $5.9 billion US.

Samsung logo (STOCK)
Samsung logo (STOCK)

Samsung is continuing its tradition of releasing estimates for its quarterly earnings ahead of the actual earnings, saying that it anticipates a consolidated operating profit of approximately ₩6.7 trillion, or around $5.9 billion US — a record for the company. That should come on consolidated sales of ₩47 trillion, or about $41.5 billion US. Although Samsung has released a range between ₩6.5 trillion and ₩6.9 trillion, South Korean regulations require an exact number, so that's what the company provided.

Last quarter, for example, its estimates proved to be within the expected range, so these numbers have a good chance of bearing out. Samsung's official Q1 2012 profit was $5.1 billion US, meaning this quarter's profits will represent a significant jump, thanks no doubt in large part to gangbuster sales of its Galaxy series of smartphones. The official results will be released on July 27th.