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SK Hynix Q2 Profit Surges 557% to Record High on AI Memory Boom as Nasdaq ADR Climbs Near $133
['Mike Clair']
International Business Times Australia
Operating profit climbed 557% year-over-year to 60.54 trillion won, delivering an operating margin of 76%.
Yet they trailed consensus estimates that had clustered near 84 trillion won in sales and 64 trillion won in operating profit.
Cash and cash equivalents rose to 88 trillion won at the end of the quarter, an increase of 33.6 trillion won from the prior period.
Total debt declined slightly to 18.6 trillion won, lifting the net cash position to 69.4 trillion won.
The results arrive less than three weeks after SK Hynix completed one of the largest foreign listings in Nasdaq history, raising approximately $26.5 billion.