A man walks past a logo of SK Hynix at the lobby of the company's Bundang office in Seongnam on January 29, 2021.
South Korea's SK Hynix on Wednesday posted record quarterly revenue and profit, boosted by a strong demand for its high bandwidth memory used in generative AI chipsets.
Here are SK Hynix's third-quarter results versus LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
Revenue: 24.45 trillion won ($17.13 billion) vs. 24.73 trillion won
24.45 trillion won ($17.13 billion) vs. 24.73 trillion won Operating profit: 11.38 trillion won vs. 11.39 trillion won
Revenue rose about 39% in the September quarter compared with the same period a year earlier, while operating profit surged 62%, year on year.
On a quarter-on-quarter basis, revenue was up 10%, while operating profit grew 24%.
SK Hynix makes memory chips that are used to store data and can be found in everything from servers to consumer devices such as smartphones and laptops.
The company has benefited from a boom in artificial intelligence as a key supplier of high-bandwidth memory or HBM chips used to power AI data center servers.
"As demand across the memory segment has soared due to customers' expanding investments in AI infrastructure, SK Hynix once again surpassed the record-high performance of the previous quarter due to increased sales of high value-added products," SK Hynix said in its earnings release.
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