SK Hynix, 'Earnings Surprise'... Record-High Q1 Revenue (Update)

SK Hynix posted its highest-ever sales in the first quarter. Operating profit also recorded the second-highest level in 11 quarters.

SK Hynix announced that it achieved consolidated sales of KRW 12.4296 trillion, operating profit of KRW 2.886 trillion (operating margin 23%), and net profit of KRW 1.917 trillion (net margin 15%) in the first quarter of this year.

Sales increased by 144.3% compared to the same period last year, and operating profit turned positive during the same period.

SK Hynix views this as a clear performance rebound trend, breaking away from the prolonged downturn.

SK Hynix explained, "Based on leadership in AI memory technologies such as High Bandwidth Memory (HBM), we increased sales of AI server products and continued profitability-focused management, resulting in a 734% increase in operating profit compared to the previous quarter. NAND flash also succeeded in turning profitable as the sales proportion of premium products like enterprise solid-state drives (eSSD) expanded and the average selling price (ASP) rose."