SK Hynix first-quarter profit up 66% on strong chip demand amid stay-at-home trend
SEOUL (Reuters) – SK Hynix, the world’s No.2 memory chip maker, posted a 66% leap in first-quarter profit on Wednesday as continued stay-at-home demand for devices throughout the coronavirus pandemic drove strong urge for meals for chips.
The South Korean agency, which counts Apple Inc amongst its prospects, reported an working profit of 1.3 trillion obtained ($1.17 billion) in January-March, up from 800 billion obtained a 12 months earlier.
That compares with a Refinitiv Smartestimate of a 1.4 trillion obtained profit, drawn from 20 analysts. The Smartestimate supplies further weight to persistently appropriate analysts.
First quarter earnings rose 18% on-year to eight.5 trillion obtained.
($1 = 1,113.1700 obtained)
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