South Korea’s memory chipmaker reports KRW79.32 trillion revenue but falls short by KRW4.8 trillion, triggering a sell-off.
SK Hynix shares dropped 12% in Korean trading after the company’s Q2 revenue missed expectations by KRW4.8 trillion. The memory chip manufacturer posted KRW79.32 trillion in revenue, a 257% year-over-year increase, driven by strong demand for DRAM and NAND flash memory.
Analysts had anticipated higher earnings, but the shortfall weighed on investor sentiment. The company’s performance contrasts with its prior quarter’s growth, where revenue surged amid recovering semiconductor prices.
The decline reflects broader concerns over demand softening in the memory chip sector despite the year-over-year gains.