SK hynix’s Q3 operating profit surges more than sevenfold to record $62.8B, beating forecasts

SK hynix posted another record quarterly operating profit of 83.33 trillion won ($62.8 billion) in the third quarter, beating market expectations as robust AI-driven demand for memory chips kept its momentum going.

The Korean chipmaker said Wednesday that operating profit rose 632.25 percent from a year earlier, topping the 76.96 trillion won consensus compiled by market tracker FnGuide.

Revenue for the quarter rose 327.89 percent on-year to 104.62 trillion won, surpassing market expectations of 98.23 trillion won. Net profit climbed 215.71 percent on-year to 39.78 trillion won, below FnGuide’s forecast of 61.29 trillion won.

Sales of dynamic random access memory (DRAM) chips rose as shipments of the company’s latest high bandwidth memory (HBM4) got into full swing and demand for server memory grew. Sales of NAND flash storage chips also increased, led by solid-state drives for data centers.

BY LEE JAE-LIM [[email protected]]