SK Hynix shares fell 6.5% on Thursday after the South Korean chipmaker reported second-quarter operating profit of 60.54 trillion won, missing the 64 trillion won consensus estimate. Revenue of 79.32 trillion won also came in below expectations, though both metrics surged year-on-year, with operating profit jumping nearly 557% and revenue climbing 257%.
The company posted second-quarter net profit of 94 trillion won, up 1,242% year-on-year, boosted by the sale of its 20 trillion won stake in Kioxia. Gross margin reached 83%, and cumulative first-half revenue exceeded 100 trillion won for the first time. SK Hynix began mass shipments of HBM4 in the quarter and completed sample shipments of HBM4E.
The earnings follow a $500 billion multiyear AI infrastructure collaboration with Nvidia announced July 26 and a $26.5 billion US ADR listing this month. SK Hynix expects 2026 capital expenditures in the high 40 trillion won range.