SK Hynix Q2 Profit Surges 557% Yet Stock Drops 9% on Missed Revenue Forecasts

SK Hynix posted a record 60.5 trillion won operating profit, up 557% YoY, but missed revenue and profit targets. Shares fell over 9% as investors weigh strong AI demand against cyclical risks and pricing pressures.

Woofun AI reports that SK Hynix announced second-quarter 2026 financial results showing an operating profit of 60.5 trillion South Korean won, a 557% year-on-year increase that set a historical high but fell short of the 64 trillion won market expectation. Revenue totaled 79 trillion won, also below the forecasted 84 trillion won, triggering a more than 9% decline in after-hours trading.

The company affirmed strong AI demand, citing long-term supply agreements with approximately 10 customers and ongoing mass production preparations for HBM4 and HBM4E products. With capital expenditure projected at 40 trillion won to expand AI memory capacity, SK Hynix expects global memory chip shortages to persist beyond 2030, though market concerns regarding price growth slowdowns and cyclical risks have weighed on investor sentiment.