SK hynix logs record Q3 operating profit of $62.8 bil.

SK hynix on Wednesday reported 83.33 trillion won ($62.8 billion) in third-quarter operating profit, setting a new quarterly earnings record. The company said in a regulatory filing that its revenue and operating profit for the July-September period stood at 104.6 trillion won and 83.33 trillion won, respectively. Revenue grew 328 percent year-on-year, while operating profit surged 632 percent. It was the first time the company's quarterly revenue surpassed 100 trillion won. Its operating profit margin reached 80 percent during the three-month period. Brokerages' consensus was 98.23 trillion won in sales and 76.96 trillion won in operating profit. The company said growing shipments of high bandwidth memory 4 (HBM4) and a sharp increase in server memory sales drove growth in the company's DRAM business. In NAND, sales of enterprise solid-state drives (eSSDs) also increased, sustaining growth across high-value-added products for data centers. In a press release, the company anticipated that the global memory supply shortage would likely persist through 2030, as productivity gains and new re