SK Hynix Achieves Record Highest Sales and Operating Profit Exceeds 5 Trillion Won for the First Time in 6 Years (Update)

Record Highest Sales Since Establishment... Operating Profit Ranks 2nd Highest for 2Q

SK Hynix posted record-high sales in the second quarter. Operating profit recovered to the 5 trillion won level for the first time in six years. This marked the third highest quarterly record ever and the second highest for the second quarter.

SK Hynix announced that it recorded consolidated sales of 16.4233 trillion won, operating profit of 5.4685 trillion won (operating margin 33%), and net profit of 4.12 trillion won (net margin 25%) in the second quarter. These figures exceeded market expectations, which forecasted second-quarter sales of 16.1886 trillion won and operating profit of 5.1923 trillion won.

Sales increased by 124.8% compared to the same period last year, and operating profit turned positive during the same period.

The highest quarterly sales record was 13.811 trillion won, set in the second quarter of 2022. Operating profit peaked at 6.472 trillion won in the third quarter of 2018. For the second quarter specifically, the highest operating profit was 5.5739 trillion won in 2018.

M16 site view at SK Hynix Icheon campus. [Photo by SK Hynix]

SK Hynix explained, "The increase in sales was driven by continued memory price rises, expansion of high value-added product sales, and favorable exchange rates," adding, "Sales of high-bandwidth memory (HBM) semiconductors increased by more than 80% compared to the previous quarter and over 250% compared to the same period last year."