SK Hynix second-quarter profit hits new high — but misses estimates

SK Hynix on Wednesday posted another record quarterly profit, but missed analysts’ estimates.

Here are SK Hynix’s second-quarter results compared with LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate: 

• Revenue: 79.32 trillion won ($54.55 billion) vs. 84 trillion won expected
• Operating profit: 60.54 trillion won vs. 64 trillion won expected

Revenue jumped 257% year on year in the quarter ended June from a year earlier, while operating profit soared nearly 557% year on year, the company’s release showed. 

Compared with the previous quarter, revenue increased 51% while operating profit gained 61%. 

The company said it saw sustained demand growth from expanding AI infrastructure investments, while high-performance products for AI servers led price increases that set a fresh record.

For the first time in company history, its cumulative revenue for the first half of the year exceeded 100 trillion won, underscoring robust AI demand. 

The South Korean tech giant, which makes memory chips and supplies components for hardware from data centers to consumer electronics such as smartphones, counts U.S. megacaps including Nvidia among its key clients — a partnership that recently expanded through a multiyear deal worth over $500 billion.