Samsung's $7.28 Billion Profit Sets a New Record

There is nothing like a solid financial report to raise the spirits of a company's leaders, workers and customers, but Samsung is going quite a bit beyond the level of “decent” here.

To say that Samsung did well during the third quarter of the ongoing year (2012) would be a massive understatement.

For that matter, it would have been an understatement if that had been said about the second quarter as well (79% profit surge).

But we digress. What we are here to talk about is how close Samsung is to gushing over its financial success during the July-September period.

The only reason it isn't doing it yet is that the financial expenses and gains have yet to be tallied. A full report will be published on October 26.

Samsung is still perfectly capable of providing estimates though, and that's precisely what it did.

Long story short, profits reached a record high for the second consecutive quarter: $7.3 billion, or 5.6 billion Euro, give or take. That's almost twice as much as the sum acquired during the same period of the previous year.

All things considered, there is definitely a high possibility of Samsung meeting its ambitious goal of $25 billion profits for the whole year (19.2 billion Euro).

The only thing it needs to do now is make sure its smartphone sales hold out against Apple's iPhone 5, and that no more disasters happen on the legal front.

Since there isn't much chance of the lawsuit in San Jose California being reset on the grounds of juror misconduct, Samsung needs to win the upcoming appeals. Its meetings with Google and other major carriers may help form a better defense, or even counterattack, during the next round of the patent war.

At least the preliminary ban on the Galaxy Tab 10.1 has been lifted in the US, but that one device won't influence finances all that much at this point.