SK Hynix posts record quarterly profit on huge AI demand, trounces expectations

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South Korea’s SK Hynix said ‍on Wednesday that quarterly profit more than doubled to a record, ⁠comfortably beating forecasts on relentless demand for artificial intelligence that has lifted prices for both advanced and conventional memory chips.

The ‌Nvidia supplier ‌logged a 137% surge in operating profit to 19.2 trillion won ($13.5 ‌billion) for the fourth quarter, according to Reuters calculations.

That compared with 8.1 trillion won a year earlier and a 17.7 trillion won consensus prediction from LSEG SmartEstimate, which ​is weighted…



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SK Hynix posts record quarterly profit on huge AI demand, trounces expectations



South Korea’s SK Hynix said ‍on Wednesday that quarterly profit more than doubled to a record, ⁠comfortably beating forecasts on relentless demand for artificial intelligence that has lifted prices for both advanced and conventional memory chips.

The ‌Nvidia supplier ‌logged a 137% surge in operating profit to 19.2 trillion won ($13.5 ‌billion) for the fourth quarter, according to Reuters calculations.

That compared with 8.1 trillion won a year earlier and a 17.7 trillion won consensus prediction from LSEG SmartEstimate, which ​is weighted…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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