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SK hynix Q4 earnings surely to top 1 tln won

All News 09:40 January 22, 2017

SEOUL, Jan. 22 (Yonhap) -- SK hynix Inc., a global chipmaker, is expected to post an operating income of over 1 trillion won (US$851 million) for the first time in over one year, driven by solid demand for mobile chips and other semiconductor products, industry data showed Sunday.

Local brokerage firms estimated SK hynix's operating income to have reached 1.3 trillion won in the fourth quarter of last year, the highest since the third quarter of 2015 when the comparable figure was 1.38 trillion won.

SK hynix is scheduled to report its fourth quarter earnings Thursday.

SK hynix has reported an operating income of below 1 trillion won since the third quarter of 2015 as it struggled with low chip prices and oversupply.

But its bottom line has started to improve since the second half of last year on the back of a recovery in the global chip market.

Driven by upbeat earnings forecast, SK hynix hit a record high of 51,600 won on the Seoul bourse on Jan. 11, becoming the country's second-largest market cap after Samsung Electronics Co.

On Friday, SK hynix closed at 49,150 won, down 0.91 percent from the previous session's close, as investors locked in part of recent gains.

The chipmaker closed at 30,150 won on the first day of trading in 2016.

SK hynix Q4 earnings surely to top 1 tln won - 1

sam@yna.co.kr
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