SK Hynix Q1 Net Income Rises

(RTTNews) - SK hynix (000660.KS) reported first quarter net income attributable to shareholders of parent company of 40.33 trillion Korean won compared to 8.11 trillion won, prior year. Operating income increased to 37.61 trillion won from 7.44 trillion won, last year.

First quarter sales were 52.58 trillion Korean won compared to 17.64 trillion won, a year ago. SK hynix noted that despite the fact that first quarter is typically a seasonal downturn, strong demand persisted due to expanded investments in AI infrastructure. The company plans to continue rolling out new products across both DRAM and NAND flash to address the diversifying memory demand.

The company's cash and cash equivalents at the end of the first quarter increased by 19.4 trillion won from the previous quarter, reaching 54.3 trillion won.

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Shares of SK hynix are trading at 11,88,000 Korean won, down 2.86%.