SK Hynix Returns to Profit After Year of Losses

Philip Lee -

Seoul, South Korea - South Korean memory chipmaker SK hynix (KRX: 000660) reported its first profitable quarter in a year for the three months that ended December 2023.

Key stats:

  • Q4 2023 Revenue: KRW 11.31 trillion ($9.2 billion) (+47% y/y)
  • Q4 2023 operating income: KRW 346 billion ($280 million) (Turn to profit from Q3 2023)
  • Q4 2023 Net Loss: KRW 1.38 trillion ($1.1 billion) (37% improvement from Q3 2023)
  • FY 2023 Revenue: KRW 32.77 trillion ($26.7 billion) (-27% y-o-y)
  • FY 2023 Operating Loss: KRW 7.73 trillion ($6.3 billion) (Turn to loss from FY 2022)
  • FY 2023 Net Loss: KRW 9.14 trillion ($7.4 billion) (Turn to loss from FY 2022)

SK Hynix attributed the fourth-quarter profit to increased demand for high-performance memory products used in artificial intelligence servers and mobile devices. 

Average selling prices of its main products also increased during the period.