SK hynix Announces 3Q24 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 23 2024
0mins
Should l Buy ?
Source: PRnewswire
Record Financial Performance: SK hynix reported record revenues of 17.5731 trillion won, operating profit of 7.03 trillion won, and net profit of 5.7534 trillion won in Q3 2024, driven by strong demand for AI memory products, particularly HBM.
Future Growth Outlook: The company anticipates continued growth in the AI memory market, with HBM expected to increase its share of DRAM revenues from 30% in Q3 to 40% in Q4, while also focusing on expanding sales of high-capacity eSSD products.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
