SK hynix says Q3 operating profit jumps 632% on AI demand
In short
SK hynix said its third-quarter operating profit rose 632% from a year earlier. The company said AI demand for advanced memory chips helped drive the result.
The chip maker also said it has posted record revenue and operating profit for six straight quarters. The reporting does not give the exact profit or revenue numbers.
What the reporting says
SK hynix said its third-quarter operating profit soared 632% on-year, driven by strong demand from the artificial intelligence industry for advanced memory chips. The publisher summary says the South Korean chip maker also reported record revenue and operating profit for six straight quarters since the second quarter of last year. The exact profit figure and revenue amount are not stated in the available reporting.
Why it matters
SK hynix reported a sharp third-quarter operating profit increase, with the publisher summary attributing the move to demand for advanced memory chips from the AI industry. The South Korean chip maker also said it has delivered record revenue and operating profit for six consecutive quarters since the second quarter of last year. The reporting does not provide the exact quarterly figures, so the scale beyond the percentage change is unclear.