SK Hynix Reports Second-Quarter Operating Profit of $43.9 Billion, Missing Estimates

SK Hynix Inc. reported second-quarter operating profit of more than $43 billion, extending its rapid growth streak but falling short of market expectations.

The company said July 29 that preliminary consolidated revenue for the second quarter was 79.3187 trillion won ($57.5 billion), while operating profit came to 60.5426 trillion won ($43.9 billion). Revenue rose 256.8% from a year earlier and operating profit surged 557.2%. From the previous quarter, revenue increased 50.9% and operating profit gained 61.0%. The operating margin was about 76.3%.

Consensus compiled a day earlier by EpicAI, an AI-based investment information platform, had called for revenue of 83.6460 trillion won ($60.6 billion) and operating profit of 63.6593 trillion won ($46.1 billion). Actual revenue missed the forecast by about 4.3273 trillion won ($3.1 billion), while operating profit was about 3.1167 trillion won ($2.3 billion) below estimates.

Second-quarter net income climbed 1,242.5% from a year earlier to 93.9226 trillion won ($68.1 billion). Pretax profit from continuing operations rose 1,306.8% to 122.7084 trillion won ($88.9 billion). First-half revenue totaled 131.8950 trillion won ($95.6 billion), and operating profit was 98.1529 trillion won ($71.1 billion).

Hong Min-seong, Hankyung.com reporter mshong@hankyung.com