SK hynix Reports Record Profit but Misses Analyst Estimates

SK hynix reported record second-quarter results on July 29, with operating profit soaring more than sixfold year-on-year to 60.54 trillion won and revenue rising to 79.32 trillion won. Despite these figures, the company missed analyst estimates for both revenue and profit, sparking a sharp selloff in its shares. Management attributed the shortfall to shipment delays of high-value products and limited gains in some DRAM prices.

Net profit reached 93.92 trillion won, bolstered by 63.3 trillion won in gains from the sale of its stake in Kioxia. To manage industry volatility, the company has secured long-term supply agreements spanning five years with approximately 10 customers.

SK hynix plans to increase 2026 capital spending to the high-40 trillion won range to expand production capacity at its sites in Icheon, Yongin, and Cheongju. The company also recently listed American depositary receipts on the Nasdaq to broaden its financial reach.