The chipmaker's June-quarter profit rose 13-fold from a year earlier, while Advanced Micro Devices reported record sales that beat analyst estimates but still saw its stock fall after hours.
SK Hynix booked roughly $65 billion in profit for the quarter ended June 30, marking a 13-fold increase from a year earlier and bringing in almost as much money in 90 days as it had earned in total over the previous 29 years since its IPO. Despite the outsized result, shares fell 8.7% after the earnings report. Advanced Micro Devices also delivered strong numbers, reporting record sales after the close Tuesday and beating analyst estimates for both revenue and profit, but its shares still tumbled almost 8% in after-hours trading. The moves underscore how semiconductor stocks can retreat even after strong earnings when investor expectations are already elevated.