SK Hynix posts its highest quarterly profit since 2018 on solid chip demand

October 26, 2021

By Joyce Lee and Heekyong Yang

SEOUL (Reuters) -SK Hynix posted its highest quarterly operating profit since 2018 as demand for server and mobile memory chips remained solid, offsetting a slowdown in personal computer sales as COVID-19 lockdowns eased.

The world’s second-biggest memory chipmaker, which serves customers including Apple Inc, said on Tuesday that operating profit rose to 4.2 trillion won ($3.57 billion) in the July-September quarter, up from 1.3 trillion won a year earlier.

That compares with a Refinitiv Smartestimate of a 4.1 trillion won profit, based on polling from 18 analysts. The Smartestimate gives more weight to consistently accurate analysts.

Third quarter revenue rose 45% on-year to 11.8 trillion won.

($1 = 1,177.2300 won)

(Reporting by Joyce Lee and Heekyong Yang; Editing by Sam Holmes and Christopher Cushing & Shri Navaratnam)

Source Link SK Hynix posts its highest quarterly profit since 2018 on solid chip demand

Tajammul Pangarkar

Tajammul Pangarkar is a tech blogger, and has contributed to numerous tech magazines. Tajammul longstanding experience in the field of mobile technology and industry research is reflected in his insightful news articles as presented on News.market.us. His interest lies in understanding the tech trends, mobile applications and technical consciousness on these increasingly consumer-oriented industries. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.