SK hynix Inc. on Thursday reported its second-quarter net income of 4.12 trillion won (US$3 billion), shifting from a loss of 2.98 trillion won a year earlier.

Operating income for the April-June period was 5.46 trillion, compared with a loss of 2.88 trillion won a year ago, the company said in a regulatory filing. Revenue rose 124.8 percent to 16.42 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 3.85 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency