SEOUL (Reuters) -South Korea’s SK Hynix posted on Thursday its highest quarterly profit since 2018 as the Nvidia supplier sees explosive sales of its advanced DRAM chips such as high bandwidth memory (HBM) used in generative AI chipsets.
SK Hynix is benefiting the most among memory chip peers from AI-driven appetite for high-end chips such as HBM and solid-state drives (SSDs) following its early entry and large investments in the segments.
The world’s second-biggest memory chipmaker reported a 5.47 trillion won ($3.96 billion) operating profit for the April-June quarter versus a loss of 2.9 trillion won a year earlier.
It was in line with expectations for a 5.4 trillion won operating profit from LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
Revenue rose 125% on-year to 16.4 trillion won.
($1 = 1,380.3400 won)
(Reporting by Joyce Lee and Heekyong Yang; Editing by Jacqueline Wong and Tom Hogue)
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