DRAM Shipment Shrinks, SK Hynix Earns Expectations in the First Quarter

Although memory chip maker SK hynix profited in the first quarter, it was still not as good as the market expected, causing the stock price to decline.
 
SK hynix announced on Tuesday that the first quarter net profit came to 3.1 trillion won, compared with 1.98 trillion won in the same period last year, the annual growth rate of 64.4%, but lower than analyst estimates of 3.4 trillion won.
 
In the same period, revenue increased 38.6% year-on-year to 8.71 trillion won. Operating profit increased 77% year-on-year to 4.36 trillion won, slightly lower than 4.4 trillion won in the previous quarter, but it was still the second highest record in history.
 
SK Hynix pointed out that overall, memory quotes are still favorable to suppliers. However, the first quarter was the traditional off-season, resulting in DRAM shipments falling by 5% from the previous quarter and NAND flash memory decreasing by 10% from the previous quarter.
 
The Castrol XQ global winner’s offer shows that as of 10:23 Taipei time (GMT+8), SK Hynix plunged 2.96%, while Samsung Electronics lost 2.58%.