Specifically, SK Hynix posted a second-quarter revenue of 79.32 trillion won ($54.55 billion), missing the 84 trillion won consensus estimate. Its operating profit reached 60.54 trillion won, below the projected 64 trillion won.
Despite missing these elevated forecasts, the company’s year-on-year growth remains massive. Revenue surged 257% compared to the same period last year, and operating profit skyrocketed by nearly 557%. On a quarter-over-quarter basis, revenue rose 51% while operating profit grew 61%. This performance pushed cumulative revenue for the first half of the year past 100 trillion won for the first time in company history, demonstrating the unprecedented momentum of artificial intelligence infrastructure spending.
SK Hynix attributed the record results to sustained demand for high-performance products used in AI servers, which drove chip prices to record highs. Josh Gilbert, lead analyst for APAC at eToro, pointed out that the company’s gross margin of 83% indicates its pricing power remains exceptionally strong. “That doesn’t exist in a market where demand is drying up; it exists in one where customers are fighting over supply,” Gilbert noted.
The company, which supplies critical memory components to major tech firms including Nvidia under a multiyear partnership valued at over $500 billion, began mass shipments of its next-generation HBM4 chips in the second quarter. It also completed sample shipments of HBM4E during the first half of the year. In its NAND flash segment, SK Hynix is accelerating its transition to advanced process nodes, targeting its 321-layer products to account for approximately 50% of domestic production capacity by the end of the year.
Looking ahead, SK Hynix expects its 2026 capital expenditures to reach the high 40 trillion won range. The company plans to maximize production at its existing hubs in Icheon, Yongin, and Cheongju while continuing to review its shareholder-return policies and building on its Nasdaq ADR listing from earlier this month.