SK Hynix third-quarter profit sharply beats estimates on AI memory boost
The chipmaker beat forecasts as AI memory demand lifted operating profit 632% year on year and pushed quarterly revenue above 100 trillion won for the first time.
- 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.
68 Articles
68 Articles
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.
South Korean chip giant SK Hynix’s 3Q profits surge
South Korean chip giant SK Hynix reported a sevenfold increase in third-quarter profits from a year ago, the latest sign of a tech boom driving nationwide economic growth. The earnings, which were powered by surging demand from the AI infrastructure buildout, come after official data showed South Korea’s GDP growth beat analysts’ expectations. Goldman Sachs upped its forecasts for expansion this year and next as a result. Yet there were calls fo…
SK Hynix Sells out AI Memory Chips Through 2029 on Record USD 74.64 Billion Revenue
Get latest articles and stories on Business at LatestLY. South Korean semiconductor firm SK hynix saw its DRAM and high-bandwidth memory chips effectively sell out through 2029 on sustained artificial intelligence demand, as the firm registered historic quarterly earnings with revenue crossing 100 trillion won (~USD 74.64 billion) for the first time, according to a news report by The Korea Herald. Business News | SK Hynix Sells out AI Memory Chi…
The SK hynix group posted on Wednesday a net profit up 216 % over a year in the third quarter. ...
After a tough period for AI stocks, a stellar earnings report from South Korean chip giant SK Hynix has sent the stock soaring. According to a Danish investment strategist, it is a strong sign that the AI boom is far from over.
The South Korean chip manufacturer SK Hynix once again recorded a revenue and profit record in the third quarter. Operating profit increased by 632 percent compared to the same period last year to a good 83.3 trillion won (about 56 billion euros), with sales exceeding the brand from 100 trillion won to 104.6 trillion for the first time, as the Group announced on Wednesday. According to experts, the end of the altitude flight is not yet in sight.…
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