SK Hynix (000660.KS) Achieves Record First-Quarter Revenue

AI Summary

SK Hynix (000660.KS) reported record first-quarter revenue of 52.58 trillion won ($35.55 billion), slightly missing the forecast of 53.55 trillion won. Operating profit reached 37.61 trillion won, above the estimate of 37.92 trillion won, and has increased fivefold year-over-year. Despite typical seasonal downturns, AI demand spurred growth, leading to an operating margin of 72%. The DRAM market experienced 30% quarter-over-quarter growth for two consecutive quarters, influenced by rising memory prices fueled by a shortage in supply.