AI memory boom lifts SK hynix to record $41.6B profit but falls short of estimates

First-half operating profit nears 100 trillion won as memory chip demand persists, though Q2 growth cools short of expectations

LEE JAE-LIM
LEE JAE-LIM BUSINESS REPORTER
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A logo of Semiconductor and memory chip company SK hynix is seen during the company's debut at the Nasdaq market in New York, on July 10.
A logo of Semiconductor and memory chip company SK hynix is seen during the company's debut at the Nasdaq market in New York, on July 10.

SK hynix posted its highest-ever quarterly operating profit of 60.54 trillion won ($41.64 billion) in the second quarter, driven by robust AI-fueled demand for high-performance memory chips, though the result fell short of market expectations. 

In a regulatory filing Wednesday, the Korean chipmaker said operating profit was up 577.2 percent from a year earlier. However, the figure missed the 63.99 trillion won consensus given by market tracker FnGuide. 

Revenue for the quarter rose 256.8 percent on-year to 79.32 trillion won, also falling short of the analyst forecast of 83.94 trillion won. Net profit climbed 1,242.5 percent on-year to 93.92 trillion won.

The chipmaker's earnings were propelled by surging demand for high-bandwidth memory (HBM) and other premium memory products used in AI servers, as global tech companies continue to ramp up investment in AI infrastructure.

First-half revenue approached 132 trillion won, with operating profit nearing the 100 trillion won mark for the year to date.


BY LEE JAE-LIM [[email protected]]

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