SEOUL (Reuters) -South Korea’s SK Hynix on Thursday posted its first quarterly profit in a year on robust demand for high-end chips used in artificial intelligence and restocking orders from Chinese mobile clients.
The world’s second-biggest memory chipmaker reported a 346 billion won ($259.77 million) operating profit for the October-December quarter versus a loss of 1.9 trillion won a year earlier and a 1.8 trillion won loss in the third quarter.
The results compared with expectations for a 192 billion won operating loss, according to 23 analysts’ views compiled by LSEG SmartEstimate, weighted toward analysts who are more consistently accurate.
SK Hynix last posted an operating profit in the third quarter of 2022.
Revenue rose 47% on-year to 11.3 trillion won.
($1 = 1,331.9400 won)
(Reporting by Joyce Lee and Heekyong Yang; Editing by Leslie Adler and Stephen Coates)
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