Nvidia supplier SK Hynix posts record quarterly profit, meets forecasts

[SEOUL] South Korea’s SK Hynix posted on Wednesday a record quarterly profit, spurred by an artificial intelligence boom that has driven up demand for both advanced chips and conventional products.

The Nvidia supplier reported an 11.4 trillion won (S$10.4 billion) operating profit for the July-September period, up 62 per cent from a year earlier.

The figure was in line with an 11.4 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.

Quarterly revenue for the South Korean firm rose 39 per cent in the third quarter to 24.4 trillion won. REUTERS