SK Hynix reported third-quarter results on Wednesday that came in ahead of market expectations, with revenue reaching 104.62 trillion won versus a consensus estimate of 98.34 trillion won, and operating profit at 83.33 trillion won compared with an expected 76.72 trillion won. The South Korean chipmaker said revenue rose 327.9% year over year, while operating profit climbed 632.1% from the same period a year earlier. SK Hynix is a key supplier of high-bandwidth memory, or HBM, chips to Nvidia, and its latest results were supported by rising spending tied to global AI infrastructure buildouts. The company had also announced in August that it planned to buy back and cancel shares worth 40 trillion won. At the same time, it raised its shareholder return target for cumulative free cash flow generated between 2025 and 2027 to more than 50%, according to CNBC.
South Korean chipmaker SK Hynix reported third-quarter earnings on Wednesday, posting revenue of 104.62 trillion won, above market expectations of 98.34 trillion won. Operating profit came in at 83.33 trillion won, also ahead of the expected 76.72 trillion won.
On a year-over-year basis, revenue increased 327.9%, while operating profit rose 632.1%.
SK Hynix is a key supplier of high-bandwidth memory, or HBM, chips for Nvidia. The company benefited from higher spending tied to the global buildout of AI infrastructure.
In August, SK Hynix said it planned to buy back and cancel shares worth 40 trillion won. It also raised its shareholder return target for cumulative free cash flow from 2025 to 2027 to more than 50%.
The report was cited by CNBC.
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