July 24, 2019 / 11:47 PM / 4 months ago

SK Hynix says Q2 profit slides 89% on year, chip prices tumble

SEOUL, July 25 (Reuters) - South Korean chipmaker SK Hynix Inc reported its smallest quarterly earnings in three years on Thursday as slumping memory prices drove an 89% drop in second-quarter operating profit.

The world’s second-largest memory chip maker behind Samsung Electronics said April-June profit was 638 billion won ($541.9 million), missing a 828 billion won Refinitiv SmartEstimate.

SmartEstimates give more weight to recent estimates by analysts who are more consistently accurate. ($1 = 1,177.4300 won) (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates)

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