SK hynix announced the financial results for second quarter of 2022
SK hynix announced the financial report for the second quarter of 2022, showing that it once again set a record, and the single-quarter revenue exceeded the 13 trillion won mark for the first time. Previously, the highest quarterly revenue of SK hynix was the fourth quarter of last year, which was 12.377 trillion won.
The financial report shows that the revenue was 13.811 trillion won ($11.049 billion), an increase of 14% month-on-month and a year-on-year increase of 34%. Operating profit was 4.193 trillion won ($3.354 billion), an increase of 47% month-on-month and a year-on-year increase of 56%. Net profit was 2.877 trillion won ($2.302 billion), an increase of 45% month-on-month and 45% year-on-year. Among them, the operating profit margin is 30%, and the net profit margin is 21%.
SK Hynix said that although the price of DRAM products fell in the second quarter of 2022, the increase in the price of NAND flash memory and the increase in overall sales led to an increase in overall revenue. In addition, the strength of the U.S. dollar and increased sales of its subsidiary Solidigm also played a positive role in SK hynix’s quarterly earnings.
“Although the uncertainty of the business environment has increased recently, we are confident in the long-term growth potential of the memory industry,” said Kevin (Jongwon) Noh, president & chief marketing officer (CMO) at SK hynix. “We will focus on increasing fundamental business competitiveness while flexibly adapting to changes in the business environment.”
Regarding the next business plan, SK hynix said that it will pay close attention to the product inventory level in the second half of this year, and will also carefully review the investment plan for next year.
