April 23, 2018 / 11:38 PM / 8 months ago

SK Hynix says Q1 profit rose 77 pct on year

SEOUL, April 24 (Reuters) - South Korea’s SK Hynix Inc on Tuesday said first-quarter operating profit rose 77 percent from a year earlier, in line with market expectations on firm demand for memory chips.

The world’s second-biggest memory chip maker behind Samsung Electronics Co Ltd said January-March profit was 4.4 trillion won ($4.1 billion).

That compared with a 4.3 trillion won Thomson Reuters StarMine SmartEstimate from a survey of 20 analysts. SmartEstimates give greater weight to recent estimates by the more consistently accurate analysts.

Revenue rose 38.6 percent to 8.7 trillion won. ($1 = 1,080.2500 won) (Reporting by Joyce Lee; Editing by Stephen Coates)

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