SEOUL, Oct. 24 (Xinhua) -- South Korea's chipmaker SK hynix logged record revenue and profit in the third quarter thanks to solid sales of memory chips used in generative artificial intelligence (AI) chipsets, regulatory filing showed Thursday.
Revenue surged 93.8 percent from a year earlier to hit a quarterly high of 17.57 trillion won (12.7 billion U.S. dollars) in the July-September quarter.
Operating profit reached a fresh high of 7.03 trillion won (5.1 billion dollars) in the third quarter compared to a loss of 1.79 trillion won (1.3 billion dollars) a year earlier.
The profit beat market expectations of about 6.8 trillion won (4.9 billion dollars).
Net income recorded a new high of 5.75 trillion won (4.2 billion dollars) in the third quarter, turning around from a loss of 2.18 trillion won (1.6 billion dollars) in the same quarter of 2023.
The record earnings were attributed to robust demand for AI memory chips such as high bandwidth memory (HBM) products and embedded solid state drives (eSSDs).
The HBM sales spiked more than 70 percent on-quarter and 330 percent on-year in the third quarter. ■
