SK Hynix reported better-than-expected revenue and operating profit for the first quarter, driven by robust demand for its high-bandwidth memory (HBM) products used in generative AI chipsets. The world's second-largest memory chip manufacturer announced a net profit of 8.1 trillion won (approximately $5.7 billion), more than tripling from 1.92 trillion won a year earlier.
Operating profit surged 157.8% to 7.44 trillion won, compared to 2.88 trillion won in the same period last year. Revenue increased by 41.9% to 17.63 trillion won. Both operating profit and revenue marked the second-highest quarterly performance in the company's history, following the fourth quarter of the previous year.
SK Hynix attributed this success to strong demand for AI memory, reinforcing its leading position in the HBM technology sector. The company noted that the memory market's growth surpassed expectations due to competition in AI system development and inventory accumulation needs.
