SK Hynix Q3 Revenue Up 328% YoY as AI Memory Demand Drives Record Profit
SK Hynix reported third-quarter revenue and operating profit that significantly exceeded analyst expectations, driven by strong demand for High Bandwidth Memory (HBM) in AI infrastructure.
South Korean chipmaker SK Hynix released its third-quarter earnings report on October 27, 2026, showing that both revenue and operating profit sharply beat analyst estimates. Third-quarter revenue reached 104.62 trillion won ($78.86 billion), up 327.9% year-over-year, while operating profit surged 632.1% to 83.33 trillion won ($62.76 billion). These figures significantly exceeded LSEG SmartEstimates of 98.34 trillion won for revenue and 76.72 trillion won for operating profit.
As a key supplier of High Bandwidth Memory (HBM) chips to Nvidia, SK Hynix has emerged as one of the biggest beneficiaries of the global AI infrastructure buildout. Technology companies are ramping up spending on data centers and advanced processors, driving sustained demand for high-performance memory. Compared with the previous quarter, revenue climbed 31.9%, and operating profit surged 37.6%, indicating accelerating growth.
Despite the strong performance, some analyses noted that an increase in bit shipments offset a slowdown in average selling prices (ASPs), and the NAND business remained relatively weak. Additionally, SK Hynix announced last week that it would halt the review of potential IPO options for its U.S. subsidiary Solidigm, citing market volatility and share price trends. In August, the company also announced plans to repurchase and cancel 40 trillion won worth of its own shares, raising its shareholder return target to more than 50% of cumulative free cash flow generated between 2025 and 2027.