SK Hynix Q2 profit jumps 557% on AI chip demand, misses forecasts
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$1 = 1,453.7200 won
Result falls short of forecasts
That compared with a 64 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
SK Hynix missed analysts' forecasts because its higher exposure to high-end memory chips used in AI data centres than rivals meant it benefited less from a stronger price rally in conventional memory chips.
Q2 operating profit rises to record high
SEOUL, July 29 (Reuters) - South Korean chipmaker SK Hynix 000660.KS reported a 557% increase in quarterly operating profit to a record high on Wednesday, driven by robust demand for advanced memory chips as big technology firms ramped up spending on AI data centres.
The Nvidia NVDA.O supplier reported an operating profit of 60.5 trillion won ($41.62 billion) for the April-June period, compared with 9.2 trillion won a year earlier.
