SK hynix announced the first quarter 2022 results
The financial report shows that the revenue was 12.16 trillion won ($9.563 billion), a decrease of 2% month-on-month and a year-on-year increase of 43%; operating profit was 2.86 trillion won ($2.249 billion), down 32% month-on-month and up 116% year-on-year; net profit was 1.98 trillion won ($1.557 billion), down 40% month-on-month and up 100% year-on-year. The operating profit margin was 24% and the net profit margin was 16%.
SK hynix said that it was able to achieve good results because the price reduction of memory products this quarter was smaller than the original market expectation, and the revenue part included the newly established subsidiary Solidigm.
“Consumption of some IT products slowed down from the start of the year amid ongoing challenges including the supply chain issue,” the company said. “SK hynix responded to customer demand in a flexible way, while focusing on profitability management, resulting in handsome earnings.”
According to SK hynix, it is currently improving the yield of 10nm-level fourth-generation DRAM and 176-layer 4D NAND products, thereby expanding the proportion of its production, and the development of a new generation of products is also progressing smoothly. With the recent increase in demand for server-oriented memory products, it is expected that the memory market will gradually improve in the second half of this year.
