latentbrief
Back to news
Launch2h ago

SK Hynix Sees 1242 Percent Net Profit Boost

Yahoo Finance1 min brief

In brief

  • SK hynix said its second-quarter net profit soared 1242 percent year-on-year.
    • This was driven by demand for its memory chips from the artificial intelligence industry.
  • The company's quarterly net profit was 94 trillion won, an all-time high.
  • Operating profit jumped 557 percent from last year to 60 trillion won.
  • Revenue stood at 79 trillion won.
  • SK hynix will invest around 40 trillion won this year.
  • The company expects demand for its memory chips to persist as tech companies increase their AI infrastructure investments.
  • SK hynix will continue to grow with the evolving AI technology.

Read full story at Yahoo Finance

More briefs