SK Hynix Inx (NASDAQ:SKHY) reported record quarterly earnings on Wednesday as surging demand for AI memory chips drove its strongest-ever financial performance, although its quarterly profit fell short of analysts' expectations.
Operating Profit Falls Short of Estimates For the second quarter, the South Korean chipmaker reported operating profit of 60.54 trillion KRW ($41.62 billion), up 557% from a year earlier, but below the 64 trillion KRW ($43.99 billion) forecast compiled by LSEG SmartEstimate.
Revenue rose 257%, more than triple, to a record 79.32 trillion KRW ($54.53 billion), while net profit climbed to 93.92 trillion KRW ($64.56 billion), driven partly by non-operating gains.
The company also posted a record 76% operating margin.
The earnings were SK Hynix's first since listing its American depositary receipts (ADRs) on the Nasdaq earlier this month.
