Seoul: SK hynix announced a substantial recovery in its financial performance for the third quarter, posting a net income of 5.75 trillion won (US$4.2 billion), a significant turnaround from the 2.18 trillion won loss recorded in the same period last year. The company attributed this improvement to a surge in sales and operational efficiencies.
According to Yonhap News Agency, SK hynix’s operating income for the July-September period reached 7.02 trillion won, reversing a loss of 1.79 trillion won from the previous year. Sales for the quarter increased by 93.8 percent, totaling 17.57 trillion won. This remarkable growth reflects the company’s ability to capitalize on market demands and enhance its operational capacity.
The reported operating profit exceeded expectations by 3.2 percent, based on an average estimate from a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimated net profit figures were not disclosed in the report. The results highlight SK hynix
‘s strategic measures to navigate market challenges and bolster its financial standing.