SK Hynix re­ports drop in Q2 profit

China Daily (USA) - - BUSINESS -

South Korea’s mem­ory chip gi­ant SK Hynix re­ported a 67.1 per­cent drop in its sec­ondquar­ter op­er­at­ing profit due to lower prices of mem­ory chips, a reg­u­la­tory fil­ing showed. Op­er­at­ing profit amounted to 452.9 bil­lion won ($397 mil­lion) in the sec­ond quar­ter. Its profit was down 19.4 per­cent from a quar­ter ear­lier. The com­pany’s profit hov­ered above 1 tril­lion won for seven straight quar­ters through the third quar­ter of last year, but it de­clined to 989 bil­lion won in the fourth quar­ter, be­fore fall­ing be­low 600 bil­lion won in the first quar­ter and 500 bil­lion won in the sec­ond quar­ter. lion), Puma said on­Wednes­day, beat­ing an­a­lysts’ av­er­age ex­pec­ta­tion of 10.6 mil­lion euros. Sales rose 7 per­cent to 827 mil­lion euros.

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