Samsung's Q2 2016 Is Best Quarter In Two Years: $7Bn Profit - Galaxy S7 & S7 EDGE Responsible

Samsung will soon report its "best quarter" in two years from Galaxy S7 & Galaxy S7 EDGE sales

Following on from Samsung's impressive Q1 results and early analyst predictions for the firm's BEST Q2 figures in the last two years, Samsung has now announced its fiscal report for 2016's second quarter and things are looking even BETTER than the analysts predicted.

Let's look at the sales figures; since the Galaxy S7 and Galaxy S7 EDGE hit the market in March 2016 the duo have SOLD 26 million units, amounting to an estimated (by Samsung's reckoning) $7 billion in operating profit on sales of $43.2 billion. This confirms analyst expectations of the firm's best quarter performance in two years, however, it does exceed analyst estimates of $6.8 billion for the period. Analyst estimates also predicted Samsung's phone division would be responsible for around 54% of the operating profit figure, an expected $3.7 billion, but although no breakdown is provided by Samsung it is estimated instead that its phone sales have accounted for around 49% at $3.5 billion.

Samsung is expected to reval a detailed breakdown of its earnings figures within the next few weeks, so we should have a better idea then of just how good a quarter this has been for the Korea giant.

Just a few days prior to the reveal, a Reuters report claimed the earnings announcement would showcase the firm's best quarter performance in a two year span, well and truly confirming that the slump has ended. The report cites a survey of 16 industry analytsts who predicted a 13% increase for Samsung's Q2 operating earnings figures year-on-year, rising to $6.8 billion (oddly the same figure the firm is reportedly pouring into its OLED production facilities!). For the record, Samsung hasn't reported an earnings figure that high since 2014's Q1 $7.4 billion. Samsung's mobile performance comes off the back of an estimated 16 million Galaxy S7 and Galaxy S7 EDGE handsets shipped for the quarter. Analysts expect profit margins to decline as the two flagship models become old news (and likely as more rumours emerge of 2017's Galaxy X, Galaxy S8 and Galaxy S8 EDGE set to appear in Q1). However, the Galaxy Note 7 (and possiblyGalaxy S7 EDGE+) will arrive in early August and may well give things a booster shot.