[Special Stock] SK Hynix, 1Q Earnings Hit Bottom... Stock Price Rebound

SK Hynix posted a loss in the first quarter, but its stock price rebounded as the perception that earnings have bottomed out spread.

As of 9:11 a.m. on the 26th, SK Hynix was trading at 87,900 won, up 2.81% from the previous trading day on the Korea Composite Stock Price Index.

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Before the market opened, SK Hynix announced that its consolidated operating loss for the first quarter of this year was preliminarily estimated at 3.4023 trillion won, turning to a loss compared to an operating profit of 2.8639 trillion won in the same period last year.

This figure is below the market forecast of 3.5604 trillion won and represents the largest loss since SK Group acquired the company in 2012.

SK Hynix stated, "The memory semiconductor downturn phase continued, leading to weak demand and a trend of falling product prices," adding, "However, from the second quarter, inventory is expected to decrease due to memory production cuts, and the market environment is anticipated to improve from the second half of the year."

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