SK hynix posts fivefold profit surge in Q1, beats estimates

SK hynix, the primary memory supplier to Nvidia, posted a fivefold increase in operating profit to 37.6 trillion won ($25.4 billion) in the first quarter from a year earlier, marking a record quarterly result.

The latest figure, announced Thursday, represents a 405.5 percent increase from a year earlier, surpassing the market consensus of 36.4 trillion won compiled by market tracker FnGuide. Operating margin between January and March stood at 72 percent, far exceeding those of its competitors, Samsung Electronics and Micron.

Revenue came in at a record 52.6 trillion won, up 198.1 percent on year, driven by robust demand for dynamic random-access memory and NAND flash. The figure also topped the consensus estimate of 51.9 trillion won.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]