SK Hynix logo displayed on a phone screen as seen in this illustration photo taken in Krakow, Poland on January 30, 2023.
Jakub Porzycki | Nurphoto | Getty Images
South Korea’s SK Hynix, one of the world’s largest memory chipmakers, on Thursday posted record quarterly profit, boosted by strong demand for its high bandwidth memory (HBM) used in generative AI chipsets.
Here are SK Hynix’s third-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:
- Revenue: 17.57 trillion won ($12.7 billion) vs. 18.11 trillion won
- Operating profit: 7.03 trillion won ($5.08 billion) vs. 6.8 trillion won
Operating profit in the July-September quarter hit its highest level, rebounding from a loss of 1.8 trillion won during the same period last year.
Quarterly revenue grew about 94% year-on-year from 9.1 trillion won.
The South Korean chip giant is a key supplier to Nvidia and has benefitted from a boom in artificial intelligence servers.
“While the demand of memory for AI servers such as HBM and eSSD has grown noticeably this year, the company predicts that this trend will continue next year,” the firm said in its earnings release.
The company said last month that it has started mass production of its latest version of HBM chips and aims for delivery by the end of the year.
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https://www.cnbc.com/2024/10/24/nvidia-supplier-sk-hynix-posts-record-quarterly-profit-beating-expectations.html
