Samsung has issued earnings guidance for the second quarter of 2016 that forecasts its largest profits in more than two years.
The South Korean electronics giant said that for the three-month period ending June 30, it expects to take in profits of 8.1 trillion won ($7 billion). That’s 17.4 percent higher than the same period a year ago and up from 7.8 trillion won forecasted by a survey of 16 analysts. If accurate, it would be the highest profit for Samsung since it generated 8.5 trillion won in the first quarter of 2014, Fortune notes.
Shares are up more than two percent on the guidance as of writing.
Samsung can thank its smartphone business for the impressive guidance and specifically, its new Galaxy S7 line. Samsung released its Galaxy S7 and S7 Edge on March 11 with many labeling them as Samsung’s best smartphones to date. Some even feel it is the best overall Android phone on the planet.
In our hands-on review, Tim Schiesser awarded the S7 Edge a score of 95 out of 100, praising its refined design, camera, processor, battery life, water resistance and Samsung’s decision to bring back the microSD card slot. The only faults we found with the device were its lack of USB Type-C, a slippery glass body that’s a major fingerprint magnet and Samsung’s TouchWiz overlay.
Just last week, Samsung released unlocked versions of the S7 and S7 Edge in the US that come without all the carrier bloatware.
Samsung will publish its full Q2 earnings report later this month.