SK Hynix Misses Revenue and Profit Estimates Despite Record Margins
Despite achieving a record operating margin of 76%, SK Hynix reported second-quarter revenue and profit that fell below analyst estimates. The company's revenue came in at $54.6 billion, short of the projected $57.7 billion but still reflecting strong year-over-year growth of 257%. Operating profit was also lower than expected at $41.6 billion versus a forecasted $44.2 billion. The surge in AI-driven memory demand helped push operating margin to an all-time high and net profit up over twelvefold from the previous year, largely due to non-operating gains of $43.5 billion on investment assets. DRAM average selling prices increased by about 30% quarter-over-quarter, while NAND ASPs rose in the mid-50%. SK Hynix also reported a gross margin of 83%, up nearly 29 percentage points from last year. Looking ahead, the company expects modest bit growth for DRAM and NAND in Q3. It has begun shipping HBM4 products and is ramping production on advanced memory technologies like SOCAMM2 and 321-layer NAND.
Tickers: $SKHYV
Topics: AI Demand Memory Market Semiconductors