SK Hynix reports 557% operating profit surge but misses expectations
Business
SK Hynix, one of the world's biggest chipmakers, just posted a massive 557% jump in operating profit compared to last year, with revenue also up 257%.
Still, these big numbers didn't quite hit what analysts were hoping for.
H1 revenue exceeds 100 trillion won
The company crossed 100 trillion won in revenue for the first half of this year, a record, thanks to huge demand for memory chips used in AI tech and rising prices for DRAM and NAND flash.
Products like HBM chips and enterprise SSDs are also fueling growth.
Even though profits missed estimates, SK Hynix shares are still up 130% this year.
Looking ahead, they're ramping up production of their new HBM4 chip to keep riding the AI wave.