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Samsung estimates another quarter of record profit

The Galaxy S9 and S9 Plus phones lead Samsung to yet another record financial quarter.

Andrew Hoyle/CNET

Samsung looks to continue its streak of record quarters, updating its estimate for its first quarter 2018 results on Thursday.

From Jan. 1 to March 31, the company made an estimated operating profit of 15.6 trillion Korean won, or $14.7 billion. That's a solid rise from the 9.9 trillion won ($9.3 billion) it made during the same quarter in 2017.

The main booster? The new Galaxy S9 and S9 Plus phones, of course. Last year's S8 and S8 Plus were released in April and contributed to Samsung's second quarter 2017 results.

Total sales from the quarter are estimated to be 60 trillion Korean won, or $56 billion.

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It follows a strong 2017 for Samsung. The company made an operating profit of 53.6 trillion Korean won ($50 billion), way up from the 29.2 trillion won ($27 billion) it made in 2016. Growth was mainly propelled by its components business, particularly thanks to memory cards used in servers and mobile devices. Meanwhile, shipments for OLED screens were up, likely thanks in no small part to Samsung selling millions of screens to Apple for the iPhone X.