SK Hynix reported record-breaking performance in the second quarter of 2024, with total revenue of 16.4233 trillion won, an increase of 125% compared to the same quarter last year. The company also achieved an operating profit of 5.4685 trillion won, compared to a loss in the previous year, and a net profit of 4.120 trillion won.
The company attributed this record revenue to increased prices for both DRAM and NAND, along with growing demand for memory units for AI applications, particularly HBM, which the company stated is fully booked until next year. As a result, compared to the first quarter of 2024, revenue increased by 32%.
SK Hynix expects the demand for high-performance memory units for AI servers to continue to rise in the second half of this year. The demand for efficient memory units is also expanding to PC and smartphone customers, driven by increasing AI workloads at the device level.
Source: SK Hynix
TLDR: SK Hynix achieved record revenue and profits in the second quarter of 2024, attributing the success to increased prices for DRAM and NAND, as well as growing demand for memory units for AI applications. The company expects the demand for high-performance memory units to continue to rise in the coming months.
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