SK Hynix reported its third-quarter financial results for 2024, setting new record highs in every line. Total revenue amounted to 17.5731 trillion won, a 94% increase from the same quarter in the previous year. Operating profit stood at 7.03 trillion won, with a net profit of 5.7534 trillion won, a significant improvement from the previous year’s loss.
The demand for memory units for AI servers continues to strengthen, especially for high-priced units like HBM, with sales increasing by up to 330% from the previous year. Premium RAM and NAND products also see a rise in demand, leading the company to project sustained high demand for these products into the next year. Products for PCs and smartphones are also growing, albeit at a slower rate compared to AI server units.
Kim Woohyun, the CFO of SK Hynix, stated that the company has solidified its position as a global leader in AI memory units, ensuring continued profitability, revenue growth, and timely product deliveries to meet market demands.
TLDR: SK Hynix reports impressive financial results for Q3 2024, showcasing significant revenue and profit increases driven by strong demand for memory units for AI servers and other premium products across various sectors. The company’s position as a key player in the AI memory unit market remains strong.
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