SK Hynix stock faced renewed selling after the memory-chip maker reported second-quarter figures below market forecasts. Revenue and operating profit reached quarterly records, yet both measures missed analyst estimates.
The company’s US-listed ADRs closed Tuesday at $130.17, down 8.99% during regular trading. They recovered about 1.9% after hours following the report. In Seoul, SK Hynix shares fell about 9.4% on Wednesday as investors reviewed the earnings release.
SK Hynix reported second-quarter revenue of 79.3 trillion won, up 257% from one year earlier. Analysts had expected about 84 trillion won. Operating profit reached 60.5 trillion won, marking a 557% annual increase. However, that result missed the 64 trillion won market forecast.
Both revenue and operating profit reached company records during the June quarter. Still, the gap against forecasts shaped the market reaction. Investors had raised expectations after strong demand lifted memory prices and pushed SK Hynix stock to record levels earlier in 2026.
Net profit rose more than 13 times to 93.9 trillion won. Investment gains played a major role in that increase. Analysts linked much of the gain to the completed sale of SK Hynix’s indirect stake in Japanese flash-memory maker Kioxia.
Meanwhile, demand for high-bandwidth memory continued to support SK Hynix earnings. HBM chips serve data centres that train and operate artificial intelligence models. The company has secured long-term supply agreements with about 10 customers and continues negotiations with other buyers.
SK Hynix said customers are seeking longer contracts as memory supply stays tight. These agreements include financial protections intended to reduce risks from changes in customer demand. The company also plans 2026 capital spending of about 47 trillion to 48 trillion won.
Even so, delays in some HBM4 shipments reduced revenue recognition during the quarter. Price gains for standard DRAM products also came in below earlier expectations. Those factors contributed to the operating profit and revenue misses.
Management maintained its positive demand view for the second half of 2026. The company expects AI server investment and limited memory supply to support sales. However, the latest figures show that record growth must also clear high market forecasts.
Moreover, SK Hynix stock moved lower during a wider retreat from AI-linked semiconductor shares. Investors have questioned the funding and returns of large data-center projects. Competition from Chinese memory-chip companies has also added pressure across Asian markets.
South Korea’s Kospi fell about 6% on Wednesday, while Samsung Electronics lost about 4.8%. The moves followed broad selling across chip stocks. SK Hynix ADRs also closed below their $149 US listing price after Tuesday’s decline.
However, investors are also watching the company’s shareholder return plan. SK Hynix has not yet provided details on its timing, size, or structure. Hyundai Motor Securities research head Greg Roh said, “SK needs to come up with a concrete shareholder return policy to turn around investor sentiment.”
The company reported a net cash position of about 88 trillion won at the end of June. It aims to build that figure toward 100 trillion won. Investors will track future spending, customer contracts, HBM4 deliveries, and the planned shareholder return policy.
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