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SK Hynix Inc. signs at the company’s office in Seongnam, South Korea, Monday, April 22, 2024. SK Hynix is scheduled to release earnings figures on April 25. Photographer: SeongJoon Cho/Bloomberg via Getty Images
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South Korea SK Hynixone of the world’s largest memory chip makers, posted record quarterly profits on Thursday, backed by strong sales of high-bandwidth memory (HBM) used in generative AI.
Here are SK Hynix’s fourth-quarter results compared to LSEG SmartEstimate, which leans toward analyst forecasts that are more consistently accurate:
- Revenue: 19.77 trillion won (US$13.7 billion) vs. 19.91 trillion won
- Operating profit: 8.08 trillion won (US$5.6 billion) vs. 8.02 trillion won
Operating profit in the October-December quarter grew 15% year-over-year to another record, as did revenue, which increased 12%.
The South Korean chipmaker has benefited from the rise of AI servers and is a key supplier for NVIDIA.
“SK Hynix emphasized that with strong and prolonged demand for AI memory, the company achieved (a) record result thanks to world-leading HBM technology and cost-effective operation,” the company said in its earnings release.
HBM is a type of dynamic random access memory, or DRAM, in which chips are stacked vertically to save space and reduce power consumption. The technology is often used in products such as laptops and PCs.
SK Hynix, Micron technology and Samsung Electronics They are the three main HBM chip manufacturers.
The strong fourth-quarter numbers conclude a year in which the company achieved record annual revenue, surpassing the previous high from 2022 by more than 21 trillion won.
Meanwhile, operating profit surpassed a record set in 2018 during a “superboom” in the semiconductor industry.
