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The global memory chip industry delivered a mixed signal on Wednesday, as chip maker SK Hynix reported a second-quarter profit that set a new company record while still coming in below analyst estimates.
Revenue more than tripled from the same period a year earlier. The result is best read as a snapshot of the sector-wide cycle at a moment when improvement has been large but expectations have outpaced delivery.
Record profit, a shorter bar SK Hynix's second-quarter earnings headline is direct: the company posted a record profit.
The year-over-year revenue trajectory, which more than tripled, reflects the scale of the prior cycle's trough as much as it does current demand strength.
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