SEOUL (Reuters) -South Korea’s SK Hynix posted a quarterly operating loss on Wednesday, as the company said the memory chip market is beginning to recover from a deep downturn.
The world’s second-biggest memory chipmaker reported a 2.9 trillion won ($2.28 billion) operating loss in the April-June quarter, from 4.2 trillion won profit a year earlier as overall memory chip prices remained low due to weak demand.
This compared with expectations for a 2.7 trillion won operating loss, according to 22 analyst views compiled by Refinitiv SmartEstimate, weighted toward analysts that are more consistently accurate.
SK Hynix reported losses every quarter since the fourth quarter of 2022, although April-June loss was narrowed from a record of 3.4 trillion won loss in the March quarter.
Revenue fell 47% on year to 7.31 trillion won.
($1 = 1,274.1300 won)
(Reporting by Joyce Lee and Heekyong Yang; Editing by Christopher Cushing)
