Led by strong sales of the Samsung Galaxy S7 and Samsung Galaxy S7 edge, Samsung is forecasting operating profits of $5.7 billion for the first quarter of 2016. The company will report its first quarter numbers sometime later this month. If Samsung does report operating earnings in that range, it will be a 10% gain year-over-year. The two high-end models were launched on March 11th which means that they were available for only a limited time during the quarter. Still, strong demand for the two models helped Sammy pump up its Q1 results.
First quarter sales will be $42.3 billion, Samsung predicts. That would be a 3.9% increase from the $40.7 billion in sales that Samsung generated during last year's first three months.
Just the other day, Samsung reported that it shipped nearly 10 million units of the Galaxy S7 in March. It is unknown whether this figure includes the Samsung Galaxy S7 edge. Analysts were looking for 7 million Galaxy S7 handsets to be delivered during the month, so this news is obviously cause for celebration at Samsung headquarters. Perhaps Lil Wayne can bring the champagne.