SK Hynix reports 89 percent dip in Q2 profit

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SK Hynix Inc, the South Korean chipmaker and one of the second largest memory-chip maker behind Samsung Corp, has reported a decrease in second-quarter operating profit by 89 percent.

According to the Factset, “The SK Hynix has reported its profit for the second quarter-end at KRW 537 billion ($455.7 million), as compared to KRW 4.329 trillion which reported for the same last year. Where it has missed a consensus estimate of KRW609.71 billion.”

The Factset report also said that “The revenue for the same has declined to 38 percent for the year to KRW6.452 trillion as compared to the provided estimate of KRW 6.405 trillion.”

“Whereas, the Operating profit for the second quarter was declined by 89 percent on the year at KRW 637.60 billion,” it reported.