SK Hynix Shares Tumble Most in a Year as Chip Troubles Drag On
- Revenue dropped 17% compared with 47% a quarter before
- Demand for smartphones and PCs has been sluggish recently
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SK Hynix Inc. reported a larger-than-expected loss despite moderating revenue declines, suggesting an uneven recovery for the global memory chip market. Shares tumbled the most in a year.
Its operating loss shrank to 1.79 trillion ($1.3 billion), compared with estimates of a 1.7 trillion won loss, according to analyst estimates compiled by Bloomberg. Its net loss of 2.2 trillion won was 42% wider than estimates.