SK Hynix Q2 profit jumps 56% on server demand, strong dollar
2022.07.27 02:37
FILE PHOTO: Employees walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji
SEOUL (Reuters) -South Korea’s SK Hynix Inc posted a 56% jump in second-quarter earnings, helped by robust demand from server clients and a strong dollar that offset higher material costs.
The world’s second-biggest memory chipmaker said on Wednesday its operating profit rose to 4.2 trillion won ($3.21 billion) in the April-June quarter, its biggest second-quarter profit since 2018 and versus 2.7 trillion won a year earlier.
Analysts expected a profit of 4 trillion won, according to Refinitiv SmartEstimate.
Revenue climbed 34% on-year to a record 13.8 trillion won.
Shipments of DRAM chips, used in devices and servers, rose around 10% in the second quarter from the first, SK Hynix said. Shipments of NAND Flash chips, that retain power in smartphones after the power is turned off, rose by a high single-digit percentage.
SK Hynix’s chip sales are made mainly in dollars, which hit a 20-year high during the quarter, boosting the value of its profits reported in Korean won.
($1 = 1,310.3400 won)
