SEOUL, July 25 (Reuters) - South Korea's SK Hynix ( HXSCF )
posted its highest quarterly profit since 2018 on
Thursday as the Nvidia ( NVDA ) supplier forecast second-half AI
chip demand to rise further, such as for high bandwidth memory
(HBM) used in generative AI chipsets.
It was the world's second-largest memory chipmaker's third
consecutive quarterly profit after massive losses last year. SK
Hynix ( HXSCF ) has benefited the most among its peers from AI-driven
appetite for high-end chips and solid-state drives (SSDs)
following its early entry and large investments in the segments.
"The company will further solidify the position as a leader
in AI memory products ... based on a stable financial
structure," CFO Kim Woohyun said in a statement.
The world's second-biggest memory chipmaker reported a 5.47
trillion won ($3.96 billion) operating profit for the April-June
quarter versus a loss of 2.9 trillion won a year earlier.
It was in line with expectations for a 5.4 trillion won
operating profit from LSEG SmartEstimate, which is weighted
toward analysts who are more consistently accurate.
Revenue rose 125% on-year to a record quarterly high of 16.4
trillion won.
($1 = 1,380.3400 won)