SK Hynix posts its highest quarterly profit since 2018 on solid chip demand

SK Hynix posts its highest quarterly profit since 2018 on solid chip demand

Information about SK Hynix posts its highest quarterly profit since 2018 on solid chip demand

Kevin David


By Joyce Lee and Heekyong Yang
SEOUL (Reuters) -SK Hynix posted its highest quarterly operating profit since 2018 as demand for server and mobile memory chips remained solid, offsetting a slowdown in personal computer sales as COVID-19 lockdowns eased.
The world’s second-biggest memory chipmaker, which serves customers including Apple Inc, said on Tuesday that operating profit rose to 4.2 trillion won ($3.57 billion) in the July-September quarter, up from 1.3 trillion won a year earlier.
That compares with a Refinitiv Smartestimate of a 4.1 trillion won profit, based on polling from 18 analysts. The Smartestimate gives more weight to consistently accurate analysts.
Third quarter revenue rose 45% on-year to 11.8 trillion won.
($1 = 1,177.2300 won)

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