Samsung turning the ship around, posts $6.3 billion quarterly profit forecast

Samsung turning the ship around, posts $6.3 billion quarterly profit forecast:

Samsung's restructuring efforts are finally bearing fruit, it seems, as its shares skyrocketed almost nine percent overnight, after it delivered its profit guidance for the third quarter. It is not easy to turn such a big ship, but Samsung is apparently on the right track, collecting 51 trillion won ($43.9 billion) of revenue, on which it has made a median of 7.3 trillion won ($6.3 billion) in profit.

Analysts are a cautious bunch, and warned that this stellar profit recovery is due to strong component sales, like mobile displays, as well as a favorable exchange rate, rather ...