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🇰🇷 South Korea /Economy & Trade

SK Hynix Q2 Profit Soars Over Sixfold to Record High, But Misses Market Estimates

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

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  • SK Hynix reported a second-quarter operating profit of 60.5 trillion won, a more than sixfold increase year-on-year.
  • This marks the company's largest-ever quarterly profit, though it fell short of market expectations.
  • Revenue also rose significantly, but did not meet analyst forecasts.

SK Hynix announced its second-quarter financial results, revealing an operating profit of 60.5 trillion won. This represents a substantial 557.2% increase compared to the same period last year, making it the company's highest-ever quarterly profit.

Despite the impressive growth, the results slightly missed the average market forecast of 63.1 trillion won, falling short by approximately 2 trillion won. SK Hynix's quarterly operating profits have shown a consistent upward trend, with figures reaching 7.4 trillion won in Q1 2023, 9.2 trillion won in Q2, 11.3 trillion won in Q3, 19.1 trillion won in Q4, and 37.6 trillion won in the first quarter of this year.

The company's second-quarter revenue also saw a significant surge, climbing 256.8% year-on-year to 79.3 trillion won. However, this figure also fell short of the market's average expectation of 82.5 trillion won. SK Hynix is scheduled to hold an investor relations briefing to discuss its performance and answer questions.

DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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