The SK Hynix logo is displayed on a mobile phone screen as shown in this illustrated photo taken on January 30, 2023 in Krakow, Poland.
Jakub Bolzycki | Noor Photos | Getty Images
South Korea’s SK Hynix, one of the world’s largest memory chip makers, reported record quarterly profit on Thursday, helped by strong demand for its high-bandwidth memory (HBM) used to generate AI chipsets.
Here’s how SK hynix’s third-quarter results compare to the LSEG SmartEstimate, which is weighted based on more consistent and accurate analyst forecasts:
- income: KRW 17.57 trillion (USD 12.7 billion) vs. KRW 18.11 trillion
- Operating profit: KRW 7.03 trillion (USD 5.08 billion) vs. KRW 6.8 trillion
Operating profit hit its highest level in the July-September quarter, rebounding from a 1.8 trillion won loss in the same period last year same period last year.
Quarterly revenue increased approximately 94% year-on-year to 9.1 trillion won.
The South Korean chip giant is a major supplier to Nvidia and has benefited from the boom in artificial intelligence servers.
“While memory demand for AI servers such as HBM and eSSD has grown significantly this year, the company expects this trend to continue next year,” the company said in its report. earnings release.
The company said last month Mass production has started Its latest version of HBM chips is expected to be delivered by the end of this year.
This is a breaking news story. Please check back later for updates.
