SEOUL, July 29 (Xinhua) -- South Korea's memory chipmaker SK hynix posted record earnings in the second quarter due to sustained demand growth from expanding artificial intelligence (AI) infrastructure investments, the company said Wednesday.
The company's operating profit soared 557.2 percent over the year to 60.54 trillion won (41.6 billion U.S. dollars) in the April-June quarter, with an operating margin of 76 percent.
Its revenue jumped 256.8 percent to 79.32 trillion won (54.5 billion dollars), while net income surged 1,242.5 percent to 93.92 trillion won (64.5 billion dollars).
The earnings marked an all-time-high quarterly performance in its history, the company stressed.
Both DRAM and NAND flash memory prices significantly increased quarter-over-quarter, leading SK hynix to achieve top-tier profitability by expanding sales centered on high-value-added products such as HBM, DRAM for AI servers, and eSSD.
The chipmaker's cash and cash equivalents reached 88 trillion won (60.5 billion dollars) at the end of June, a growth of 33.6 trillion won (23.1 billion dollars) from three months earlier.
Its total debt shrank to 18.6 trillion won (12.8 billion dollars), raising the net cash position to 69.4 trillion won (47.7 billion dollars).
The company said that it was expanding multi-year contract discussions with customers to secure mid-to-long-term supply stability amid spiking chip demand, emphasizing that it had finalized long-term agreements (LTAs) with some 10 customers, including key strategic partners. ■
