DIRS.INFO The most relevant business & tech news

☆ Hyundai Motor posts record Q2 profit on strong U.S. sales, to boost hybrid lineups
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +1 min

Hyundai Motor reported record quarterly profit and revenue on Thursday on strong sales of high-margin cars and said it would expand hybrid lineups to brace for possible changes in U.S. electric vehicle policies following the election. But Hyundai also warned of an uncertain outlook due to intensifying price competition as inflation and high interest rates squeeze consumers. Hyundai reported a net profit of 4 trillion won ($2.9 billion) for the April-June period, up 23% from a year earlier and easily beating the 3.4 trillion won average of 21 analyst estimates compiled by LSEG SmartEstimate. The net profit was its highest quarterly since the previous record high set in the Q2 2022. Domestic vehicle sales in South Korea, Hyundai's second-biggest market, slumped 10% in the second quarter, extending from a 16% drop in the previous quarter, as consumers continue to grapple with surging inflation and a weak economy.

Persons: LSEG SmartEstimate, Hyundai's Organizations: Hyundai, New York, Hyundai Motor, Ford, Nissan, Tesla, Kia Corp Locations: U.S, South Korea

☆ Nvidia supplier SK Hynix posts highest quarterly profit in 6 years on AI chip leadership
▼ + stars: | 2024-07-25 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

A man walks past a logo of SK Hynix at the lobby of the company's Bundang office in Seongnam on January 29, 2021. SK Hynix, one of the world's largest memory chipmakers, on Thursday said second-quarter profit hit its highest level in 6 years as it maintains its leadership in advanced memory chips critical for artificial intelligence computing. Here are SK Hynix's second-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:Revenue: 16.42 trillion Korean won (about $11.86 billion), vs. 16.4 trillion Korean won16.42 trillion Korean won (about $11.86 billion), vs. 16.4 trillion Korean won Operating profit: 5.47 trillion Korean won, vs. 5.4 trillion Korean wonOperating profit in the June quarter hit its highest level since the second quarter of 2018, rebounding from a loss of 2.88 trillion won in the same period a year ago. The South Korean giant supplies high-bandwidth memory chips catering to AI chipsets for companies like Nvidia. High-bandwidth memory chip supplies have been stretched thanks to explosive AI adoption fueled by large language models such as ChatGPT.

Persons: LSEG, SK Kim, Kim Organizations: SK Hynix, SK Hynix's, Nvidia, SK, Daiwa, Micron, Samsung Locations: Seongnam

☆ TSMC second-quarter profit beats expectations as AI chip boom continues
▼ + stars: | 2024-07-18 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the second quarter, as demand for advanced chips used in AI applications continue to surge. The firm guided second-quarter revenue to be between $19.6 billion and $20.4 billion. Today, the demand is so high I had to work very hard to meet customer demand," Wei told analysts. TSMC projects third-quarter revenue between $22.4 billion and $23.2 billion. This compares to $17.3 billion in revenue posted in the same period a year ago.

Persons: C.C, Wei Organizations: Taiwan Semiconductor Manufacturing Company, Samsung, Intel, Apple, Nvidia, TSMC Locations: Taiwan, TSMC

☆ TSMC second-quarter revenue jumps on AI boost, handily beats market forecasts
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +1 min

A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)TSMC , the world's largest contract chipmaker, reported strong growth in second-quarter revenue on Wednesday that handily beat market forecasts, on the back of booming demand for artificial intelligence (AI) applications. It is not a direct comparison as TSMC provides monthly revenue data only in Taiwan dollars, but gives quarterly revenue figures and its outlook on its quarterly earnings calls both in U.S. dollars. On its most recent earnings call in April, Taiwan Semiconductor Manufacturing Co forecast second quarter revenue in a range of between $19.6 billion to $20.4 billion. For June alone, TSMC reported that revenue rose 33% year-on-year to T$207.87 billion.

Persons: Amber Wang, TSMC Organizations: Taiwan Semiconductor Manufacturing Company, Center, TSMC, Taiwan Semiconductor Manufacturing Co, Apple, Nvidia, Revenue, Taiwan Semiconductor Manufacturing Locations: Hsinchu, AFP, Taiwan

☆ Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had "relatively conservative and neutral" expectations for 2024. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely to drop in the period. Apple last month reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business though its China sales missed analysts' targets.

Persons: 20JUL16 SCMP, Nora Tam, Foxconn, Young Liu Organizations: South China Morning, Getty, Foxconn, Hai Precision Industry Co, Apple, Wall Locations: Foxconn, Longhua, Shenzhen, 20JUL16, South, China

☆ SK Hynix swings to fourth-quarter profit on strong AI chip demand
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: +1 min

The SK Hynix Inc. logo is displayed on a glass door at the company's office in Seoul, South Korea, on Monday, Jan. 27, 2014. SK Hynix aims to select a U.S. site for its advanced chip packaging plant and break ground there around the first quarter of next year. South Korea's SK Hynix on Thursday posted its first quarterly profit in a year on robust demand for high-end chips used in artificial intelligence and restocking orders from Chinese mobile clients. The results compared with expectations for a 192 billion won operating loss, according to 23 analysts' views compiled by LSEG SmartEstimate, weighted toward analysts who are more consistently accurate. SK Hynix last posted an operating profit in the third quarter of 2022.

Persons: LSEG SmartEstimate Organizations: SK Hynix Inc, SK Hynix, South Korea's SK Hynix, Revenue Locations: Seoul, South Korea, U.S

☆ Hyundai Motor's fourth-quarter net profit rises 31%, misses forecasts
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: +2 min

Hyundai Motor, the world's No.3 automaker by sales with its affiliate Kia Corp, reported a net profit of 2.2 trillion won ($1.65 billion) for the October-December period versus a profit of 1.7 trillion won a year earlier. That compared with a 2.9 trillion won average forecast by LSEG SmartEstimate, which is weighted towards estimates from analysts who are more consistently accurate. It expects a 4.9% jump in North American vehicle sales but a 3.7% drop and 0.6% fall in vehicle sales in China and Europe, respectively. "Hyundai Motor expects the business environment will remain difficult to predict, due to macro uncertainties centered on emerging markets and a downturn in the real economy," Hyundai Motor said in a statement. Shares in Hyundai Motor were trading up 2.0% after it reported its earnings, outperforming 0.1 rise for the benchmark Kospi.

Persons: Hyundai, LSEG SmartEstimate, Lee Jae, Lee Organizations: Hyundai, Hyundai Motor, Kia Corp, Eugene Investment, Securities Locations: San, San Leandro , California, South, Russia, China, Europe

☆ TSMC posts flat fourth-quarter revenue but beats expectations
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +1 min

Taiwan chipmaker TSMC reported a largely flat fourth-quarter revenue on Wednesday, but that still beat both the company's and market's expectations. Revenue in the final three months of last year came in at T$625.5 billion ($20.10 billion), according to Reuters calculations, compared with $19.93 billion in the year-ago period. That beat Taiwan Semiconductor Manufacturing Co's, or TSMC, previous prediction for fourth-quarter revenue being in a range of between $18.8-19.6 billion, and also beat an LSEG SmartEstimate of T$617.1 billion drawn from 21 analysts. For December alone, TSMC reported that revenue fell 8.4% year-on-year to T$176.3 billion, which was down 14.4% compared with the previous month. TSMC, Asia's most valuable publicly listed company with a market capitalization of $491 billion, did not provide any details or forward guidance in its brief revenue statement.

Persons: Taiwan chipmaker TSMC, SmartEstimates, TSMC Organizations: Apple, Nvidia, Revenue, Taiwan Semiconductor Manufacturing, TSMC's Locations: Taiwan, TSMC's Taipei

☆ SK Hynix says AI boom will drive profits after third-quarter loss narrows
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +1 min

SK Hynix logo displayed on a phone screen as seen in this illustration photo taken in Krakow, Poland on January 30, 2023. South Korea's SK Hynix said a boom in artificial intelligence will drive chip profits after posting a sharply narrower third quarter loss than it did in the previous quarter. Strong demand for advanced chips used in AI helped ease the impact of a prolonged slowdown in demand for commodity chips used in smartphones and computers in the three months to the end of September, the world's second-biggest memory chipmaker said on Thursday. SK Hynix said it swung to a 1.8 trillion won, or $1.33 billion, third-quarter operating loss from a profit of 1.7 trillion won a year earlier. It was its fourth consecutive quarterly loss, but improved from a trough of a 3.4 trillion won loss in the first quarter and a 2.9 trillion won loss in the second quarter.

Persons: South Korea's SK Hynix, chipmaker, SK Hynix, LSEG SmartEstimate Organizations: SK Hynix, South Korea's SK, SK, Revenue Locations: Krakow, Poland

A Hyundai Elantra N is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. Hyundai reported a net profit of 3.2 trillion won ($2.36 billion) for the July-September period, up from 1.3 trillion in profit a year earlier. That exceeded an estimate of 2.9 trillion won from 19 analysts compiled by LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Revenue rose 8.7% year-on-year to 41 trillion won. Shares of Hyundai Motor were trading down 0.2% as of 0451 GMT, versus benchmark KOSPI's (.KS11) 2.4% fall.

Persons: Aly, LSEG SmartEstimate, 1,358.3200, Heekyong Yang, Joyce Lee, Clarence Fernandez, Jamie Freed Organizations: Hyundai, Auto, REUTERS, Rights, General Motors, EV, Hyundai Motor, Thomson Locations: Auto Shanghai, Shanghai, China, Rights SEOUL, KS

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Oct 26 (Reuters) - South Korea's SK Hynix (000660.KS) said a boom in artificial intelligence will drive chip profits after posting a sharply narrower third quarter loss than it did in the previous quarter. SK Hynix said it swung to a 1.8 trillion won ($1.33 billion) third-quarter operating loss from a profit of 1.7 trillion won a year earlier. It was its fourth consecutive quarterly loss, but improved from a trough of a 3.4 trillion won loss in the first quarter and a 2.9 trillion won loss in the second quarter. SK Hynix was ahead of rivals in developing HBM3 chips and securing AI-chip leader Nvidia (NVDA.O) as a client.

Persons: Kim Hong, chipmaker, SK Hynix, LSEG SmartEstimate, 1,351.6200, Joyce Lee, Heekyong Yang, Shri Navaratnam, Jamie Freed Organizations: SK Hynix, REUTERS, Rights, Korea's SK Hynix, SK, Revenue, Samsung Electronics, Analysts, SK Hynix's, Nvidia, Thomson Locations: Seongnam, South Korea, Rights SEOUL, KS

☆ TSMC Q3 profit falls 24.9%, beats expectations
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration taken March 6, 2023. The forecast-beating results by the world's most advanced chipmaker follows better-than-expected quarterly profit from rival Samsung Electronics (005930.KS) earlier this month. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world's largest contract chipmaker and a major Apple Inc (AAPL.O) supplier, saw July-September net profit fall to T$211 billion from T$280.9 billion a year earlier. The profit beat a T$195.5 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Capital expenditure in the third quarter was $7.1 billion, TSMC said, compared with $8.17 billion in the previous quarter.

Persons: Dado Ruvic, TSMC, TW, Sarah Wu, Yimou Lee, Jacqueline Wong Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Samsung Electronics, Taiwan Semiconductor Manufacturing Co, Apple Inc, Thomson Locations: TAIPEI, U.S, China, Taipei

A logo of Taiwanse chip giant TSMC can be seen in Tainan, Taiwan December 29, 2022. The likely decline in profit also reflects a strong performance last year, when the company was still riding high on pent-up post-pandemic demand. The world's largest contract chipmaker is set to report net profit of T$195.9 billion ($6 billion) for July-September - its second straight quarter of profit decline, according to an LSEG SmartEstimate drawn from 19 analysts. Given that, much of Thursday's focus will be on TSMC's outlook for the fourth quarter and beyond. Fubon Securities expects a slow start to next year for TSMC, with 10% growth in the first quarter, predicting order cancellations towards the year end and mild restocking demand.

Persons: Ann Wang, SmartEstimates, Morgan Stanley, SmartEstimate, TSMC, Sarah Wu, Ben Blanchard, Emily Chan, Edwina Gibbs Organizations: REUTERS, Revenue, TAIPEI, Taiwan Semiconductor Manufacturing Co, TSMC's, Fubon Securities, TSMC, Apple, Thomson Locations: Tainan, Taiwan, Asia's, TSMC's Taipei

Samsung shares opened 3.3% higher versus a 1.4% rise in the wider market (.KS11), as analysts said memory chip prices likely bottomed in the third quarter, with some types starting to rebound. The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement. The profit beat a 2.1 trillion won LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. The company reported losses of 4.58 trillion won and 4.36 trillion in its chip business in the first and second quarter respectively, as memory chip prices plunged and its inventory values were slashed. Samsung's said its revenue likely fell 13% from the same period a year earlier to 67 trillion won.

Persons: Yves Herman, LSEG, Ko Yeongmin, chipmakers, Ko, Samsung's, 1,342.1900, Joyce Lee, Heekyong Yang, Jamie Freed Organizations: Samsung, REUTERS, Samsung Electronics, Daol Investment, Securities, Apple, Thomson Locations: Brussels, Diegem, Belgium, SEOUL

The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement. The profit beat a 2.1 trillion won LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Although down sharply from last year, Samsung's third quarter profit is higher than the first quarter's 640 billion won and the second quarter's 670 billion won. Rival Micron Technology (MU.O) also forecast a quarterly loss last month, triggering concerns of a sluggish recovery in the memory chip maker's end markets such as data centres. Samsung's revenue likely fell 13% from the same period a year earlier to 67 trillion won, Samsung said in the statement.

Persons: Yves Herman, LSEG, Samsung's, chipmakers, 1,342.1900, Joyce Lee, Heekyong Yang, Jamie Freed Organizations: Samsung, REUTERS, Rights, Samsung Electronics Co, Micron Technology, Apple, Thomson Locations: Brussels, Diegem, Belgium, Rights SEOUL, KS, Korean

☆ Samsung Q3 profit set to slump 80% as chip losses persist
▼ + stars: | 2023-10-09 | by ( Joyce Lee | ) www.reuters.com time to read: +3 min

[1/2] A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. The world's biggest maker of memory chips, smartphones and televisions will announce its third-quarter preliminary earnings results on Wednesday. It compares with an operating profit of 10.85 trillion won in the September quarter last year. Analysts said Samsung's cuts to chip production also hurt economies of scale, lifting the costs of making chips. Rival Micron Technology (MU.O) forecast a quarterly loss last month, triggering concerns of a sluggish recovery in the memory chip maker's end markets such as data centres.

Persons: 1,347.1300, Joyce Lee, Jamie Freed Organizations: Samsung Electronics, Reuters, REUTERS, Rights, Analysts, Samsung, Micron Technology, KB Securities, SK Hynix, Nvidia, Thomson Locations: Pyeongtaek, South Korea, Rights SEOUL, Korean, American

Search resuls for: "LSEG SmartEstimate"

16 mentions found