The SK Hynix Inc. logo is displayed on a glass door at the company’s office in Seoul, South Korea, on Monday, Jan. 27, 2014. SK Hynix aims to select a U.S. site for its advanced chip packaging plant and break ground there around the first quarter of next year.
SeongJoon Cho | Bloomberg | Getty Images
South Korea’s SK Hynix on Thursday posted record operating profit and revenue in the second quarter on sustained demand for its high bandwidth memory technology used in generative AI chipsets.
Here are SK Hynix’s second-quarter results compared with LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
- Revenue: 22.23 trillion won vs. 20.56 trillion won
- Operating profit: 9.21 trillion won vs. 9 trillion won
Revenue rose about 35% in the June quarter compared with the same period a year earlier, while operating profit rose 68%, year on year.
On a quarter-on-quarter basis, revenue rose 26%, while operating profit jumped 24%.
SK Hynix is a leading supplier of dynamic random access memory — a type of volatile semiconductor memory commonly found in PCs, workstations and servers that is used to store data and program code.
Much of the company’s recent success can be credited to its business in high bandwidth memory, or HBM — a type of DRAM used in artificial intelligence servers.
SK Hynix has established itself as the global leader in HBM, supplying clients such as U.S. AI darling Nvidia.
Micron Technology and Samsung Electronics are the other memory players seeking to catch up to SK Hynix in the HBM space. However, analysts expect SK Hynix’s dominance to persist through this year.
