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SK Hynix Q1 profit beats expectations on AI boom
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SK Hynix Q1 profit beats expectations on AI boom
Apr 24, 2024 4:24 PM

SEOUL, April 25 (Reuters) - South Korea's SK Hynix

on Thursday posted its highest profit in nearly two

years, as explosive sales of its advanced DRAM chips such as

high bandwidth memory (HBM) used in generative AI chipsets drove

a steep performance improvement.

The world's second-biggest memory chipmaker and Nvidia ( NVDA )

supplier reported a 2.89 trillion won ($2.1 billion)

operating profit for the January-March quarter versus a loss of

3.4 trillion won a year earlier.

It beat expectations for a 1.88 trillion won operating

profit LSEG SmartEstimate which is weighted toward analysts who

are more consistently accurate.

($1 = 1,374.6200 won)

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