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SK Hynix third-quarter profit sharply beats estimates on AI memory boost
- On Wednesday, South Korean chipmaker SK Hynix reported record third-quarter results, with operating profit hitting 83.33 trillion won and revenue reaching 104.6 trillion won.
- Surging demand for high-bandwidth memory, or HBM, chips used by Nvidia drove these gains as global technology companies ramped up spending on data centers and advanced processors.
- Performance significantly exceeded LSEG SmartEstimates, with revenue rising 327.9% and operating profit climbing 632.1% year-on-year, marking the first time quarterly sales surpassed 100 trillion won.
- The company's U.S. subsidiary Solidigm halted its review of pre-IPO fundraising and IPO options last week, citing market volatility and share price trends.
- SK Hynix continues its August plan to repurchase 40 trillion won in shares while maintaining a shareholder return target of more than 50% of cumulative free cash flow through 2027.
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SK Hynix ADR Surges as Q3 Revenue Tops KRW 100 Trillion
SK hynix (NASDAQ: SKHY) shares surged more than 8% to $157.88 in Wednesday's premarket trading after the South Korean chipmaker reported record third-quarter earnings, with quarterly revenue exceeding KRW 100 trillion for the first time in its history. The company reported third-quarter 2026 revenue of KRW 104.62 trillion, up 328% year over year, while operating profit jumped 632% to KRW 83.33 trillion.Visit Website
SK Hynix’s Profit Jumped 632% as AI Eats the World’s Memory
SK hynix just posted the kind of numbers that make investors question everything they thought they knew about commodity chip stocks, but the real story lives in what the CEO said about demand through 2029 and why net income badly missed estimates despite a historic quarter.
·Lakewood, United States
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Total News Sources118
Leaning Left9Leaning Right19Center25Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 17%
C 47%
R 36%
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