SK Hynix Stock Jumps After Record Q3 Earnings: What Investors Need to Know
Photo: Coinpedia
SK Hynix shares jumped around 8% in U.S. premarket on Wednesday after the South Korean chipmaker reported record quarterly earnings and forecast a prolonged memory shortage. Operating profit surged 632% year over year to 83.33 trillion won, beating analyst expectations, while revenue crossed 100 trillion won for the first time. The company also announced a roughly $75 billion shareholder-return plan, adding another catalyst to the rally. SK Hynix reported third-quarter revenue of KRW 104.62 trillion, up 328% year over year and 32% from the previous quarter. Operating profit reached KRW 83.33 trillion, rising 632% annually and 38% sequentially.
Source: Coinpedia
