SK hynix Inc., the world’s No. 2 memory chip maker, said Thursday its net profit tumbled 28.8 percent in the second quarter from a year ago due to the rising cost burden of its convertible bonds.
Net profit came to 673.7 billion won ($657.96 million) in the April-June period, compared with 946.7 billion won on-year, the company said in its regulatory filing.
Sales edged down 0.2 percent on-year to 3.92 trillion won in the second quarter, and operating profit fell 2.7 percent to 1.08 trillion won from 1.11 trillion won a year earlier. The figures fell short of market expectations.
Nine brokerage houses polled by Yonhap Infomax had projected an average operating profit of 1.11 trillion won in the second quarter. (Yonhap)
