SK Hynix profit hit a record, but revenue miss sent shares down
What's new: Revenue came in at 79.32 trillion won versus 84 trillion won expected, even as operating profit jumped 557% from a year earlier.
SK Hynix posted record second-quarter operating profit and revenue growth driven by strong demand for AI memory chips, but its sales missed analyst estimates and the stock fell. The South Korean chipmaker reported revenue of 79.32 trillion won and operating profit of 60.54 trillion won for the quarter ended June, both up sharply from a year earlier. Investors have grown more cautious after a steep sell-off in the shares since June, amid concerns that rising memory prices, crowded positioning and volatility tied to leveraged ETFs could make the AI-fueled boom harder to sustain. SK Hynix said it expects capital spending this year in the high-40 trillion won range and is reviewing shareholder returns.