Nvidia supplier SK Hynix posted quarterly profit on the strength of the AI boom
Monday, April 22, 2024 SK Hynix Inc. A sign at the company’s office in Seongnam, South Korea. SK Hynix is scheduled to release earnings figures on April 25. Photographer: Seongjoon Cho/Bloomberg via Getty Images
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South Korea’s SK Hynix, one of the world’s biggest makers of memory chips, posted record quarterly revenue on Thursday for its high-bandwidth memory (HBM) used in generative AI.
Here are SK Hynix’s fourth-quarter results compared to the LSEG SmartEstimate, which weights forecasts from analysts that are more consistently accurate.
- Revenue: 19.77 trillion won ($13.7 billion) from 19.91 trillion won.
- Operating profit: 8.08 trillion won ($5.6 billion) from 8.02 trillion won.
Operating profit in the October-December quarter rose 15% year-on-year to another record high, while revenue rose 12%.
The South Korean chipmaker has benefited from the proliferation of artificial intelligence servers, for which it is a key supplier. Nivea.
“SK Hynix emphasized that the company has achieved significant results by adopting world-leading HBM technology and profitability-focused practices at a time of high demand for AI memory for a long time,” the company said. Release of earnings.
HBM is a type of dynamic random access memory, or DRAM, in which chips are stacked vertically to save space and reduce power consumption. The technology is often used in products such as laptops and PCs.
SK Hynix, Micron Technology and Samsung Electronics are the three top manufacturers of HBM chips.
The strong fourth-quarter numbers cap a year in which the company is on pace to hit a record annual revenue of more than 21 trillion won in 2022.
Meanwhile, operating profit beat the record set in 2018 during the “Super Boom” in the semiconductor industry.