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Technology Stocks : Semi Equipment Analysis
SOXX 328.35+3.2%Jan 6 4:00 PM EST
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From: Sam7/25/2024 5:00:49 PM
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SK Hynix Reports Highest Quarterly Sales Profit in Six Years amid AI Memory Boom
  • Editor Kim Eun-jin
  • 2024.07.25 21:17
In March this year, SK Hynix began mass-producing high-value products such as HBM3E and server DRAM, setting the stage for a record-breaking financial performance in the second quarter.

On July 25, SK Hynix announced its financial results for the second quarter, reporting a revenue of 16.4233 trillion won (approximately $12.1 billion), an operating profit of 5.4685 trillion won, and a net profit of 4.1200 trillion won. This revenue marks the highest quarterly performance in SK Hynix's history, surpassing the previous record of 13.8110 trillion won set in the second quarter of 2022.

The company explained that the demand for AI memory such as HBM (High Bandwidth Memory) and eSSD (enterprise Solid State Drive) remained strong, and the overall price of DRAM and NAND products continued to rise, resulting in a 32% increase in revenue compared to the first quarter. Additionally, the focus on premium products and favorable exchange rates contributed to a 10 percentage point increase in the operating profit margin to 33% in the second quarter, meeting market expectations.

continues at businesskorea.co.kr
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