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SK Hynix Profits Surge Sevenfold on AI Chip Demand
28 Oct
Summary
- Quarterly operating profit rose over seven times to a record high.
- Demand for AI infrastructure significantly boosted memory chip prices.
- Company plans shareholder returns of approximately 100 trillion won this year.
South Korean chipmaker SK Hynix announced on Wednesday that its operating profit for the July-September period saw a substantial increase, soaring more than seven-fold to a record high. This exceptional performance exceeded market forecasts, largely fueled by the robust demand for AI infrastructure, a trend that has positively impacted memory chip prices.
The company's operating profit for the quarter reached 83.3 trillion won, a significant jump from the 11.4 trillion won recorded in the same period last year. Revenue also experienced considerable growth, rising by 328% to 104.6 trillion won. In addition to its strong financial results, SK Hynix detailed its commitment to shareholder returns, outlining plans for approximately 100 trillion won in shareholder distributions for the current year. This includes 30 trillion won in cash dividends and an ambitious 60 trillion won in share repurchases and cancellations.
