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SK Hynix’s revenue for the year grew by 18%, net profit – by 53%

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SK Hynix, the second largest manufacturer of memory chips, has released its latest quarterly report. Since her financial year start coincides with the beginning of the calendar year, this was the report for the first quarter of 2021.

The reporting period brought the South Korean company $ 7.63 billion in revenue. Operating income for the quarter was $ 1.19 billion and net income was $ 0.89 billion.

Compared to the previous quarter, revenue increased by 7%, and compared to the first quarter of last year, that is, in annual terms – by 18%. Operating profit compared to the previous quarter increased by 37%, in annual terms – by 66%. Net profit decreased by 44% compared to the previous quarter, but in annual terms it also increased – by 53%.

In a press release on the quarter’s results, it said that the growth in financial performance was driven by “improved conditions in the semiconductor market.” In particular, there has been an increase in demand for memory for personal computers and mobile devices.

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