Mirae Asset, SK Hynix 2quarterly operating profit 12% lower forecast
Mirae Asset Securities on 7reported that it lowered its forecast for SK Hynix’s 14quarter operating profit by 2from 70trillion won 7billion won to 62trillion won 3billion won, or 12%. Hanwha Investment & Securities also 2said it expects SK Hynix’s quarterly operating profit to fall short of market expectations. In the same period, Korean Air’s operating profit declined by 34% due to oil prices, and the FTC approved Mirae Asset’s acquisition of Korbit on 7 and 9.
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Mirae Asset Securities said on 7it will lower its forecast for SK Hynix’s operating profit for this year’s 14quarter by 2from 70trillion won 7billion won to 62trillion won 3billion won, or 12%. From an investor’s perspective, the lower earnings expectations could be linked to stock price movements.
Hanwha Investment & Securities said on 7it expects SK Hynix’s operating profit for the 13quarter to come in below market forecasts. The assessments from the two securities firms reflect a cautious view of the 2quarter results.2.
In the same announcement, Mirae Asset Securities said that the 2quarter operating profit fell by 12% year on year. The company also included wording that assessed the industry conditions as still solid.
The Fair Trade Commission 7in 9has approved Mirae Asset’s acquisition of the virtual-asset exchange Korbit. With the approval of the acquisition, Mirae Asset has secured a legal basis to expand its digital-asset-related businesses.
Korean Air said 2its separate-basis revenue for the quarter was 5trillion 199billion won. For the same period last year, revenue was 3trillion 9,859billion won, and operating profit fell by 34% due to fuel costs. The company said the cargo division performed well.
The above reports compile company and securities firm announcements released on 7in 9and 7in 13~14. They were compiled based on each company’s official disclosures and securities firm announcements.