SK hynix shifts to red in Q1

SK hynix-Q1 earnings

SK hynix shifts to red in Q1

SEOUL, April 26 (Yonhap) -- SK hynix Inc. on Wednesday reported its first-quarter net loss of 2.58 trillion won (US$1.9 billion), turning from a profit of 1.98 trillion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 3.4 trillion won for the January-March period, compared with a profit of 2.86 trillion won a year ago. Sales fell 58.1 percent to 5.08 trillion won.

The loss was 21.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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