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Nvidia provider SK Hynix posts report Q3 revenue, beats forecasts By Reuters

by Index Investing News
October 23, 2024
in Stocks
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SEOUL (Reuters) -South Korea’s SK Hynix on Thursday posted a report quarterly revenue because the Nvidia (NASDAQ:) provider noticed robust gross sales of its superior chips comparable to excessive bandwidth reminiscence (HBM) ones utilized in generative AI chipsets.

The world’s second-biggest reminiscence chipmaker reported a 7 trillion received ($5.07 billion) working revenue for the July-September quarter versus a 1.8 trillion received loss a yr earlier.

That in contrast with a 6.8 trillion received common forecast by LSEG SmartEstimate, which is weighted towards analysts who’re extra constantly correct.

SK Hynix has outperformed rivals Samsung Electronics (KS:) and Micron Know-how (NASDAQ:) in latest quarters, because it advantages essentially the most from AI-driven urge for food for high-end reminiscence chips following its early entry and enormous investments in HBM chip growth.

Income for the quarter rose 94% year-on-year to 17.6 trillion received.

($1 = 1,379.9600 received)





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