Seoul: SK hynix Inc. on Thursday reported its first-quarter net profit of 8.1 trillion won (US$5.7 billion), marking a 323 percent increase from the previous year.
According to Yonhap News Agency, the company revealed in a regulatory filing that it achieved an operating profit of 7.44 trillion won for the quarter, compared with 2.88 trillion won a year earlier. Additionally, the company's revenue rose by 41.9 percent, reaching 17.63 trillion won.
The earnings surpassed market expectations, as the average estimate of net profit by analysts was 5.48 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.