SK Hynix disclosed that driven by continued growth in demand for high-bandwidth memory (HBM) fueled by AI servers, the company's second-quarter revenue and operating profit both reached record highs. However, both core figures fell short of market consensus expectations.

Both revenue and profit hit new highs

The company's second-quarter revenue was 79.32 trillion won, lower than the market expectation of 84 trillion won; operating profit was 60.54 trillion won, also lower than the expected 64 trillion won.

Year-over-year, SK Hynix's revenue grew by 257% and operating profit by nearly 557% in the quarter. Compared to the previous quarter, revenue increased by 51% and operating profit increased by 61%.

HBM demand continues to support performance.

This South Korean chipmaker has consistently benefited from rising demand for HBMs in recent quarters. HBMs are primarily used in AI applications that require high-speed processing of large amounts of data and are a crucial component of current AI servers and accelerated computing hardware.

Performance results show that the investment boom in AI infrastructure continues, further consolidating SK Hynix's leading position in the HBM market.

Nvidia and other customers drive orders

SK Hynix provides memory chips and related components for hardware such as data centers and smartphones. Its major customers include US technology companies such as Nvidia.

The report mentions that the cooperation between the two parties has recently expanded further, involving a multi-year agreement worth over $500 billion. For SK Hynix, this means that AI-related orders remain a core source of current growth.

Additional information:The CNBC article stated that the company's "performance exceeded analysts' expectations," but the revenue and operating profit figures listed were both lower than LSEG SmartEstimates, indicating inconsistencies in the original statement.