Nvidia supplier SK Hynix posts record quarterly profit as AI boom drives demand
Revenue for the third quarter grew about 94% year-on-year.
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.
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.
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