Seoul: SK hynix Inc. announced a significant increase in its second-quarter net profit, reaching 6.99 trillion won (US$5.1 billion), marking a 69.8 percent rise from the same period last year. The company's operating profit for the April-June timeframe also showed an impressive growth, climbing 68.5 percent to 9.21 trillion won, as disclosed in a recent regulatory filing. Meanwhile, sales for the quarter saw a 35.4 percent increase, totaling 22.23 trillion won.
According to Yonhap News Agency, the earnings figures, despite the substantial growth, fell short of market expectations. Analysts had projected an average net profit estimate of 7.16 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.