SK Hynix posts record first-quarter profit, in line with estimates as memory prices climb

sk hynix posted record first-quarter profit on thursday, in line with estimates, as memory prices continue to climb. revenue hit 52.58 trillion won ($35.55 billion), though it missed forecasts. operating profit was 37.61 trillion won. revenue nearly tripled from a year ago, surpassing 50 trillion won for the first time. operating profit grew fivefold year-over-year and the operating margin hit an all-time high of 72%. the company credited strong ai demand, noting the typical seasonal downturn didn't materialize due to expanded ai infrastructure investments. sk hynix dominates the hbm market with a 57% share, supplying key chips to nvidia. however, samsung reclaimed the top spot in overall dram revenue late last year. the broader dram market has seen 30% quarter-over-quarter growth for two straight quarters due to rising prices. sk group's chairman said the chip wafer shortage could last until 2030, with a projected supply shortfall exceeding 20%.