SK hynix posts net loss of 2.2 trillion won in Q3

SK hynix posted 2.2 trillion won in net loss in the third quarter this year, failing to meet market consensus of 1.5 trillion won as market downturn for memory chips lingered.

SK hynix [YONHAP]

SK hynix posted 2.2 trillion won ($1.6 billion) of net loss in the third quarter this year, failing to meet the market consensus of 1.5 trillion won as the market downturn for memory chips lingers. It is the fourth consecutive quarter of net loss for the Korean memory chipmaker.

Its money-losing DRAM business, however, managed to turn to profit during the July-September period, according to the company.

SK hynix posted 1.7 trillion won in operating loss, staying in the red for four consecutive quarters. Its revenue logged 9.1 trillion won in the cited period, plunging by 17 percent year-on-year but beating market consensus of 8.1 trillion won.

"After hitting the bottom in the first quarter, the company's earnings are continuously improving," the company said, adding increased sales of DRAM and NAND flash chips contributed to the improved figures and the slowly rising average selling price for DRAM chips.

The company said it shipped out 20 percent more of its high-performance DRAM chips in the third quarter compared to the previous one. Their average selling price also edged up by 10 percent.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]