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'Pray For Kospi': SK Hynix Earnings Miss, Sending Stock Reeling
'Pray For Kospi': SK Hynix Earnings Miss, Sending Stock Reeling
Things are not going to be fun in South Korea tonight...
Good news first...
SK Hynix's net income surged a bigger-than-expected 1,242% (though admittedly on one-time investment gains) with the ginat chipmaker bragging that it won multiyear contracts with around 10 customers.
Ok, now the bad news...
SK Hynix’s quarterly profit rose a smaller-than expected 557%.
The key supplier of Nvidia reported operating profit of 60.5 trillion won ($42 billion) in the June quarter, well below analysts’ average projection for 64.2 trillion won.
Revenue came...
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Via Middle East Eye
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