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

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 26, 2021

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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

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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.

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