SK Hynix still lost more than $1.8 billion in Q1 in 2023, but narrowed month-on-month.

Thanks to CTOnews.com netizens Wu Yanzu in South China and Mr. Aviation for their clue delivery! April 26 news, according to foreign media reports, memory chip manufacturer SK Hynix, which suffered huge losses in the fourth quarter of last year and led to a sharp decline in annual profits, still failed to reverse the loss in the first quarter of this year, but fortunately, the net loss has significantly narrowed compared with the previous quarter.

SK Hynix reported on Wednesday that its revenue in the first quarter of this year was 5.088 trillion won (CTOnews.com note: currently about 26.305 billion yuan), far less than 12.156 trillion won in the same period last year, down 58% from a year earlier, and down 34% from 7.67 trillion won in the previous quarter.

The sharp drop in revenue means that SK Hynix's profits will be affected this quarter. The results showed an operating loss of 3.4 trillion won (currently about 17.578 billion yuan) in the first quarter, up from 1.898 trillion won in the previous quarter, compared with an operating profit of 2.864 trillion won in the same period last year.

In terms of net loss, the financial report showed 2.586 trillion won (about $1.81 billion, currently about 13.37 billion yuan) in the first quarter, down from 3.721 trillion won in the previous quarter, but still turning from profit to loss compared with the same period last year. There was a net profit of nearly 2 trillion won (currently about 10.34 billion yuan) in the same period last year.

For the first quarter still operating loss, SK Hynix said in the financial report is due to the decline in demand for memory chips, prices are still falling.