SEOUL (Reuters) -South Korea’s SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of advanced chips such as high bandwidth memory (HBM) used in generative artificial intelligence chipsets.
The world’s second-biggest memory chipmaker reported an 8.1 trillion won ($5.64 billion) operating profit for the October-December quarter, up from a 346 billion won profit a year earlier.
The result compared with an 8 trillion won average forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
SK Hynix’s quarterly operating profit exceeded its bigger rival Samsung Electronics’ forecast December-quarter operating profit of 6.5 trillion won.
SK Hynix said its revenue for the quarter rose 75% year-on-year to 19.8 trillion won.
($1 = 1,435.1200 won)
(Reporting by Joyce Lee and Hyunjoo Jin; Editing by Leslie Adler and Jamie Freed)
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