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FinanceSK Hynix Q2 operating profit surges 557% to record, but misses estimates
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SK Hynix reported a record quarterly operating profit of 60.54 trillion won for Q2 2026, surging 557% year-on-year, driven by booming demand for high-bandwidth memory chips used in AI applications. Revenue jumped 257% to 79.32 trillion won. However, both profit and revenue missed analyst estimates (64 trillion and 84 trillion won expected, respectively). The South Korean chipmaker, a key supplier to Nvidia, recently expanded a multiyear deal worth over $500 billion. The results underscore continued strong AI demand and SK Hynix's leadership in HBM memory technology.
Source report
The logo of SK Hynix is displayed on a glass wall during the 2026 World IT Show in Seoul on April 22, 2026. Jung Yeon-je | AFP | Getty Images
SK Hynix on Wednesday posted another record quarterly profit, beating analysts' estimates as booming demand for high-bandwidth memory (HBM) chips continues to fuel its growth.
Key Financial Results (Q2 2026 vs. LSEG SmartEstimates)
| Metric | Actual | Expected | |--------|--------|----------| | Revenue | 79.32 trillion won | 84 trillion won | | Operating Profit | 60.54 trillion won | 64 trillion won |
Year-on-Year Performance
- Revenue jumped 257% year on year in the quarter ended June
- Operating profit soared nearly 557% year on year
Quarter-on-Quarter Performance
- Revenue increased 51% from the previous quarter
- Operating profit gained 61% from the previous quarter
Market Context
The record-shattering performance underscores robust AI demand, cementing SK Hynix's leadership in HBM — an advanced memory technology designed to process massive amounts of data at high speeds for AI applications.
The South Korean chip giant manufactures memory chips and supplies components for hardware ranging from data centers to consumer electronics such as smartphones. It counts U.S. tech giants including Nvidia among its key clients — a partnership that recently expanded through a multiyear deal worth over $500 billion.
Source
US Top News and AnalysisWestern
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