SK Hynix’s financial results missed expectations, closing down roughly 9% in US regular stock trading, and once fell an additional 9% in after-hours trading.

According to BIT (bit.com) market data, SK Hynix (SKHY.O) has released its financial results. Driven by tech giants’ increased investment in AI data centers, which has fueled strong demand for advanced storage chips, the company’s second-quarter operating profit surged 557% year-on-year to 60.5 trillion won (approximately $416.2 billion), hitting a new all-time high. The figure was 9.2 trillion won in the same period last year. However, the result fell short of market expectations of 64 trillion won, mainly because its high-end storage chips (HBM) account for a larger proportion than its peers, so it failed to fully capitalize on the current strong price rally for conventional storage chips, amplifying concerns that the AI boom driving the semiconductor industry may be slowing. SK Hynix’s revenue also missed forecasts: its Q2 revenue came in at 79 trillion won, versus market expectations of 84 trillion won. Following the earnings release, SK Hynix dropped 9% during regular trading on US stocks on Tuesday, and was down as much as 9% in after-hours trading; it is currently trading 2.74% lower at $126.55 in after-hours sessions.