South Korea's SK Hynix, the world's second-largest memory chip maker, said on Thursday that its second-quarter results turned a profit and hit a six-year high thanks to strong sales of high-end artificial intelligence (AI) memory chips. The company achieved operating profit of 5.46 trillion won (approximately US$3.95 billion) in the second quarter, compared with a loss of 2.88 trillion won in the same period last year.
This is SK Hynix’s largest quarterly operating profit after 6.47 trillion won in the third quarter of 2018.
The company said its second-quarter revenue soared 124.8% to a record 16.42 trillion won; net profit reached 4.12 trillion won, compared with a loss of 2.98 trillion won in the same period last year.
SK Hynix said demand for high-bandwidth memory (HBM) products and artificial intelligence memory chips such as embedded solid-state drives, as well as a rebound in NAND flash memory prices, were the reasons for its strong second-quarter results.