Key facts
- SK hynix reported Q3 net income of 39.77 trillion won.
- Net income increased 215.7% year-on-year.
- Sales rose 327.9% to 104.61 trillion won.
SK hynix Inc. reported a third-quarter net income of 39.77 trillion won ($30 billion) on Wednesday, a surge of 215.7% from the previous year. The memory chipmaker's sales jumped 327.9% to 104.61 trillion won, though earnings fell short of market expectations.
SK hynix's significant increase in net income and sales, despite missing market expectations, highlights the dynamic nature of the memory chip market and its sensitivity to demand and supply fluctuations.
SEOUL, Oct. 28 (Yonhap) -- SK hynix Inc. reported a third-quarter net income of 39.77 trillion won ($30 billion) on Wednesday, a surge of 215.7 percent from a year earlier. The world's second-largest memory chipmaker said in a regulatory filing that it posted 83.33 trillion won in operating profit for the quarter, compared with 11.38 trillion won a year ago. Sales also shot up 327.9 percent to 104.61 trillion won. The earnings fell behind market expectations, with the average estimate of net profit by analysts standing at 59.67 trillion won, according to a survey by Yonhap Infomax.
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