SK hynix Q2 profit reaches $41.6 bil., up 557%

SK hynix said Wednesday its operating profit for the second quarter stood at 60.54 trillion won ($41.6 billion), up 557.2 percent from a year earlier.

Revenue for the quarter reached 79.32 trillion won, up 256.8 percent year-on-year.

Both revenue and operating profit set new records, surpassing the previous highs of 52.58 trillion won in revenue and 37.6 trillion won in operating profit.

Its operating margin reached 76 percent.

The results fell short of brokerages' consensus estimates of 83.94 trillion won in revenue and 63.99 trillion won in operating profit.

The company attributed the strong performance to continued demand driven by expanding artificial intelligence (AI) infrastructure investment, with higher prices for high-performance AI server memories lifting earnings.

Its first-half revenue exceeded 100 trillion won for the first time.

"Prices for both DRAM and NAND posted sharp increases from the previous quarter," SK hynix said.

"We achieved record profitability by expanding sales of high-value-added products, including high-bandwidth memory (HBM), AI server DRAM and enterprise ...