Arab Today, arab today sk hynix profit misses analyst estimates as chip prices fall
Last Updated : GMT 20:31:08
Arab Today, arab today
Arab Today, arab today

SK Hynix profit misses analyst estimates as chip prices fall

Arab Today, arab today

Arab Today, arab today SK Hynix profit misses analyst estimates as chip prices fall

South Korean chipmaker SK Hynix
Seoul - AFP

South Korean chipmaker SK Hynix reported a 65 percent on-year increase in second quarter net profit on Thursday, missing analyst estimates, as slowing demand for personal computers and smartphones dampened memory chip prices.

But its shares jumped more than five percent in early morning trade after the company announced a buyback of 22 million shares worth 859.1 billion won ($742 million).

SK Hynix -- which is Apple's second largest chip supplier -- is one of the world's largest makers of memory chips used for personal computers, servers and mobile devices.

Net profit came to 1.1 trillion won (US$954 million) in the April-June period, up from 674 billion won a year earlier, the company said in a regulatory filing.

The result fell short of the 1.16 trillion-won average of 23 analysts’ estimates compiled by Bloomberg.

Revenue rose 18 percent on-year to 4.64 trillion won in the same period as operating profit surged 27 percent to 1.4 trillion won.

"A steep price decline of memory chips for personal computers was the biggest culprit," Jay Yoo, an analyst at Korea Investment & Securities Co. in Seoul, told Bloomberg before the earnings announcement.

"Demand for PCs will continue to remain tepid throughout the year," Yoo said.

Apple Inc., which is estimated to account for about nine percent of SK Hynix's total sales, reported sales of 47.5 million iPhones last quarter, missing analysts’ estimates.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sk hynix profit misses analyst estimates as chip prices fall Arab Today, arab today sk hynix profit misses analyst estimates as chip prices fall

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sk hynix profit misses analyst estimates as chip prices fall Arab Today, arab today sk hynix profit misses analyst estimates as chip prices fall

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday