SK hynix logs record Q1 revenue, net profit on AI-driven memory demand
Net profit surges 397.6% to 40.34 trillion won, beating analyst expectations of 31.95 trillion won
Quick Look
- SK hynix reported record Q1 earnings with net profit of 40.34 trillion won, up 397.6% year-on-year, driven by robust demand for high bandwidth memory (HBM) and rising DRAM prices.
- Sales jumped 198.1% to 52.57 trillion won, exceeding analyst expectations of 31.95 trillion won.
AI-generated summary
SEOUL, April 23 (Yonhap) -- SK hynix Inc. said Thursday its revenue and profits for the first quarter reached record highs, driven by robust demand for high bandwidth memory (HBM) and other memory segments. Net profit came to 40.34 trillion won (US$27.3 billion) for the January-March period, up 397.6 percent from a year earlier, according to the company's regulatory filing. Its operating income soared 405.5 percent on-year to 37.61 trillion won. Sales shot up 198.1 percent to 52.57 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 31.95 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. SK hynix attributed the sharp growth to a rise in global prices of dynamic random access memory (DRAM), coupled with strong demand for high-end products in the AI server industry.
