By Kwanwoo Jun


SK Hynix posted stronger-than-expected earnings for the final quarter of 2024 as it continued to benefit from robust chip demand amid the artificial-intelligence boom.

The South Korean memory-chip maker supplies advanced high-bandwidth-memory products to AI-chip giant Nvidia, and its market leadership has helped significantly boost profits over the past year thanks to brisk shipments of higher-end, premium HBM products.

Net profit for the October-December period was 8.006 trillion won, equivalent to $5.57 billion, the company said Thursday. That compared with a loss a year ago and was 39% higher than the prior quarter.

The result beat analysts' estimates of 5.998 trillion won, according to a FactSet-compiled consensus.

Revenue for the fourth quarter rose 75% from a year earlier, to 19.767 trillion won, while operating profit came in at 8.083 trillion won.

For the full year, the company reported net profit of 19.797 trillion won and operating profit of 23.467 trillion won as revenue doubled to 66.193 trillion won.

Reflecting investors' continued optimism about AI and the company's central role in the industry's HBM field, the stock has risen 30% so far in January after gaining 23% in 2024.


Write to Kwanwoo Jun at kwanwoo.jun@wsj.com


(END) Dow Jones Newswires

01-22-25 1844ET