SK Hynix Q2 Results Overview
SK Hynix (KS:000660) posted a record second‑quarter operating profit of 60.54 trillion won (approximately $41.6 billion), representing more than a sixfold increase from the same quarter a year earlier. The figure fell short of the 64 trillion won forecast from LSEG SmartEstimate. Revenue climbed 257% year‑on‑year to 79.32 trillion won, while net profit surged more than twelve‑fold to 93.92 trillion won. The strong earnings were driven by heightened demand for artificial‑intelligence (AI) memory chips, including high‑bandwidth memory (HBM), server DRAM, and enterprise SSDs, which benefitted from higher DRAM and NAND flash prices.
The company highlighted that AI adoption is expanding across multiple industries, creating structural demand for high‑bandwidth memory. It announced that it began shipping HBM4 products in the second quarter and will execute a full production ramp‑up in the second half of the year, while also supplying HBM4E samples to a major customer. SK Hynix reaffirmed its strategic partnership with Nvidia, noting a long‑term agreement to co‑develop next‑generation AI memory as part of a broader $500 billion‑plus AI infrastructure initiative.
Despite the record performance, investor sentiment turned cautious. By 02:12 GMT, Seoul‑listed shares had slipped nearly 9%, reaching their lowest level since May 4, pressured by a broader sell‑off in global AI and semiconductor stocks and by the fact that both revenue and operating profit missed analyst expectations.
Looking ahead, SK Hynix forecast 2026 DRAM bit demand growth in the mid‑20% year‑on‑year range and NAND demand growth in the high‑teens. For the third quarter, the company expects DRAM bit shipments to rise about 10% from the previous quarter, while NAND shipments are projected to increase by a low‑single‑digit percentage.