SK hynix-Q1 earnings

SK hynix Q1 net profit up 99.8 pct to 1.98 tln won

SEOUL, April 27 (Yonhap) -- SK hynix Inc. on Wednesday reported its first-quarter net income of 1.98 trillion won (US$1.6 billion), up 99.8 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period rose 115.9 percent on-year to 2.85 trillion won. Sales increased 43.1 percent to 12.15 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 2.24 trillion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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