SK Hynix quarterly profit soars 158% to top estimates as chip demand surges on AI boom

South Korea's SK Hynix on Thursday topped quarterly revenue and operating profit estimates, with demand for its high bandwidth memory offerings used in generative AI chipsets remaining robust.

Here are SK Hynix's first-quarter results versus LSEG SmartEstimates:

• Revenue: 17.64 trillion won ($12.36 billion) vs. 17.26 trillion won
• Operating profit: 7.44 trillion won vs. 6.62 trillion won

Revenue rose about 42% in the March quarter compared with the same period a year earlier, while operating profit surged 158%, year on year.

On a quarter-on-quarter basis, revenue dropped 11%, while operating profit fell 8%.

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