• Samsung Earnings Raise The Bar for Apple

    On Friday, chief Apple rival Samsung pre-announced its Q1 earnings and Wall Street was impressed.

    According to details emerging this afternoon, the South Korean tech giant confirms sales of approximately $46 billion, 15% higher than earnings from one year ago in Q1 of 2012.

    Most importantly, Samsung's operating profit was $7.7 billion, besting Wall Street expectations with 53% growth over last year's first quarter.

    Samsung's quarter was boosted by gadgets and electronics other than its top-of-the-line Galaxy S smartphone. Sales of the Galaxy S III and Galaxy S Note tablets have slumped recently as consumers held out for updates to these devices.
    All told, today's report from Samsung is putting more pressure on Apple to wow Wall Street when it reports earnings from its fiscal second-quarter on April 23rd. Following January's earnings report, shares of AAPL declined dramatically as earnings once again missed Wall Street projections.

    Source: CNN Money
    This article was originally published in forum thread: Samsung Earnings Raise The Bar for Apple started by Michael Essany View original post
    Comments 2 Comments
    1. se23's Avatar
      se23 -
      I work for Samsung and I know iPads outsell tabs roughly 2/3 some days double so I expect earnings to be good for Apple, I'm not up to speed on all the financial stuff but they are doing well . Over Easter we did sell more tabs than iPads though but I really pushed my demo's hard.
    1. GrumpySod's Avatar
      GrumpySod -
      And the fact that this is for all Samsung products not just phones and tabs! Bit of a hard compare!
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