SEOUL (Reuters) -South Korea’s SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of its advanced chips such as high bandwidth memory (HBM) ones used in generative AI chipsets.
The world’s second-biggest memory chipmaker reported a 7 trillion won ($5.07 billion) operating profit for the July-September quarter versus a 1.8 trillion won loss a year earlier.
That compared with a 6.8 trillion won average forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
SK Hynix has outperformed rivals Samsung Electronics and Micron Technology in recent quarters, as it benefits the most from AI-driven appetite for high-end memory chips following its early entry and large investments in HBM chip development.
Revenue for the quarter rose 94% year-on-year to 17.6 trillion won.
($1 = 1,379.9600 won)
(Reporting by Heekyong Yang and Joyce Lee; Editing by Muralikumar Anantharaman)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.