South Korean company SK Hynix, one of the largest manufacturers of memory chips in the world, on Thursday, January 23, published information about its earnings for the fourth quarter of 2024.
The mentioned results showed growth, but at the same time, the value of the shares of the specified firm turned out to be on a downward trajectory. The corresponding indicator fell by 2.7%. This dynamic is because the chief financial officer of the company Kim Woohyun stated the outlook for memory demand in 2025 was faced with such negative circumstances as inventory adjustments by manufacturers of personal computers and smartphones, strengthened protective trade policies and geopolitical risks.
SK Hynix’s revenue for the last quarter of 2024 was 19.77 trillion won ($13.7 billion). This indicator increased by about 75% year-on-year. According to LSEG SmartEstimate, analysts’ average forecast was that the company’s revenue in the last three months of 2024 would amount to 19.91 trillion won.
The chipmaker’s operating profit for the fourth quarter of last year was recorded at the 8.08 trillion won ($5.6 billion) mark. This figure increased by 2.2%. LSEG SmartEstimate data indicates that the average analyst forecast predicted that the company’s operating profit for the mentioned period would be 8.02 trillion won.
It is worth noting that SK Hynix’s revenue in the last three months of 2024 increased by 12% compared to the previous quarter. The company’s operating profit rose by 15% as part of the mentioned comparison and reached a new record high.
As we have reported earlier, TSMC Posts Revenue.
