SK Hynix Q2 Earnings Miss Estimates Despite Record Profit
South Korean semiconductor manufacturer SK Hynix reported record quarterly results for the second quarter of 2026, with operating profit rising by 557% year-on-year to 60.54 trillion won and revenue reaching 79.32 trillion won—a 257% increase from a year ago. However, these figures fell short of analyst expectations for both operating profit (forecast at 64 trillion won) and revenue (expected at 84 trillion won), leading to an immediate drop in the company's stock price by nearly 10%. The shortfall was attributed primarily to lower-than-anticipated shipments of HBM4 memory, with some revenue recognition delayed into later periods. The net profit for Q2 reached a record high of 93.92 trillion won—more than thirteen times higher year-on-year—largely due to gains from the sale of its stake in Kioxia, which closed last month. SK Hynix plans to ramp up production of HBM4 memory and has secured long-term contracts with around ten customers to stabilize revenue against price volatility. The company also announced increased capital spending for 2026 and is preparing a shareholder return plan expected later this year.
Tickers: $SKHYV
Topics: AI demand HBM4 memory market semiconductors