SK Hynix Sales and Profit Miss, Bears Roar
SK forecasts full-year capex to rise as much as 80% to high 40 trillion won range
Good Morning from Taipei,
SK Hynix bears may have been right.
Second-quarter operating profit climbed a mind-boggling 557% to a record 60.54 trillion won ($4.2 billion). But that was short of the 64.31 trillion won average of analyst estimates compiled by FactSet.
Revenue also missed. FactSet’s survey saw 84.17 trillion won, yet the world’s largest maker of high-bandwidth memory (HBM) only delivered 79.32 trillion won (also a record). Yonhap Infomax had similar estimates, so this wasn’t a sampling error.
Here’s what happened.
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