SK Hynix shares fall after earnings miss expectations

SK Hynix shares fell on Wednesday after the South Korean memory chip maker reported strong secondquarter growth that still came in below analyst expectations. The company said revenue rose 257% from a year earlier and operating profit increased nearly 557%, but both figures missed LSEG SmartEstimates. The stock dropped as much as 15% during the session before closing 9.6% lower in Seoul. U.S.listed shares also traded lower. SK Hynix said demand for highperformance memory used in AI servers continued to rise, supporting record pricing and strong margins. It also said firsthalf revenue exceeded 100 trillion won for the first time, and it plans to keep investing in production capacity and advanced packaging as demand for AIrelated memory remains elevated.