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 be its biggest Q1 profit figure ever, coming close to its overall profit record set in Q3 2013 and representing 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.

Clarification, April 7th, 5AM ET: Updated article to clarify that Samsung’s profit forecast would represent its strongest quarter since Q3 2013 and its strongest Q1 quarter ever, as opposed to its strongest quarter ever overall.