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Sk Hynix logs all-time high Q3 earnings

AFP

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

Net profit came to 1.09 trillion won ($1.04 billion) in the third quarter, up 14 percent from a year earlier, the company said in a regulatory filing.

It also posted an all-time high quarterly operating profit of 1.3 trillion won, up 12 percent on-year.

Hynix attributed the profit growth to technology upgrades and higher margins for data-retaining NAND Flash memory chips.

Revenue grew six percent on-year to 4.31 trillion won, also the highest quarterly amount since the company was founded in 1983.

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The chipmaker said firm demand in both DRAM chips and NAND Flash chips boosted overall sales.

The company said it had ploughed a total of 3.9 trillion won into its production facilities over the first nine months this year.