Seoul: SK hynix Inc. reported a record-breaking third-quarter operating profit, exceeding 10 trillion won (US$6.97 billion), driven by its robust performance in the high bandwidth memory (HBM) segment, a key component for artificial intelligence (AI) infrastructure.
According to Yonhap News Agency, the South Korean chipmaker’s operating profit reached 11.38 trillion won during the July-September period, a significant increase from the 7.02 trillion won recorded a year earlier, as per the company’s regulatory filing. This marks the first time SK hynix has achieved a quarterly operating profit above 10 trillion won.
Net profit for the period also saw a remarkable increase, reaching 12.59 trillion won, more than doubling from the same period last year. The company’s revenue rose by 39.1 percent, totaling 24.44 trillion won over the cited period.
The earnings outperformed market expectations, as analysts had estimated an average net profit of 8.84 trillion won, according to a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. SK hynix credited the profit surge to rising global prices of dynamic random access memory (DRAM) and NAND flash, along with strong demand for high-end products in the AI server industry.