South Korean chipmaker SK Hynix staked record second-quarter operating profit on Thursday, beating market presumptions thanks to strong sales of DRAM chips for servers.
The world’s No. 2 tribute chipmaker said operating profit for April-June grew 83 percent to 5.6 trillion won ($5 billion) from 3.1 trillion won a year earlier.
That likened with a 5.4 trillion won Thomson Reuters StarMine SmartEstimate from a study of 21 analysts.
Revenue for the period rose 55 percent from a year earlier to a record 10.4 trillion won, the attendance said.
SK Hynix stock rose 1 percent on the result, after skimming more than 7 percent since Monday on analyst forecasts of a slowdown in DRAM sector bringing off.
The results come as an industry-wide shift to new production technology raises shop fears of oversupply that could spell the end of a cycle of strong assay growth that has underpinned record profits for the past two years.