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Samsung predicts record-breaking profit for Q1 2017

Samsung Electronics’ Q1 2017 earnings guidance is out, and the company is predicting an operating profit of around 9.9 trillion won (about $8.7 billion) off 50 trillion won (about $44 billion) in revenue. That would beat its previous profit record set in Q3 2013 and represent a roughly 50 percent increase on the same period last year, when Samsung made 6.68 trillion won.

Despite the predicted year-on-year profit increase, however, it looks like sales will be essentially flat: Samsung’s Q1 2016 revenue was 49.78 trillion won. But that might not be such a bad sign, considering the Galaxy S7 launched in Q1 last year and the Galaxy S8 isn’t going on sale until later this month — not to mention the fact that Samsung doesn’t have a new Galaxy Note on sale right now. The major corruption scandal that ensnared the company’s leader Lee Jae-yong doesn’t appear to have had much impact, either.

For a more nuanced breakdown of Samsung’s performance, we’ll have to wait until the full earnings report is released in a few weeks.

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