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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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Samsung Electronics delivers an operating profit of more than 100 trillion won for the first time in a quarter.
·Borås, Sweden
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SK Hynix profit jumps 632% to a record on demand for AI memory
SK Hynix reported record third-quarter results on Wednesday, 28 October. Operating profit rose 632% from a year earlier to 83.3 trillion won (about $62bn). Revenue rose 328% to 104.6 trillion won, it said in its earnings release. It is the first time the South Korean memory maker’s quarterly sales have passed 100 trillion won. Its […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Total News Sources137
Leaning Left10Leaning Right23Center30Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 16%
C 48%
R 36%
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