SK Hynix Profit Jumps Over Sevenfold to Record on AI Demand

SK hynix reported record third-quarter results on Oct 28 (Seoul time), with operating profit of 83.3338 trillion won, more than seven times the 11.3834 trillion won it earned in the same quarter a year earlier. Revenue reached 104.6155 trillion won, the first quarter above 100 trillion won, and the operating margin was 80%. The figures are preliminary and unaudited, and the company called both revenue and operating profit all-time quarterly highs.

Results beat forecasts. Operating profit topped analyst expectations of roughly 76 trillion to 77.5 trillion won, by about 7.5% to 8.6% depending on the consensus measure. Revenue was up about 328% from 24.4489 trillion won a year earlier. Net income was 39.7756 trillion won, down 58% from the second quarter, so net profit was not a record.

Shareholder returns. SK hynix said it will return about 100 trillion won to shareholders for the full year 2026: at least 30 trillion won in cash dividends and at least 60 trillion won in share buybacks and cancellations, including a 40 trillion won buyback announced in August. The total is the full-year figure, not new money. The newly approved items are a third-quarter dividend of 14 trillion won (20,000 won per share, including a special payout tied to gains from Kioxia) and a 20 trillion won buyback.

Outlook. The company said long-term agreements cover more than 50% of its 2027-2028 capacity, that it expects memory supply to stay tight through 2030, and that it has discontinued its review of a Solidigm IPO.

Sources: SK hynix 3Q26 financial results; Bloomberg, Reuters and CNBC reporting.