SK hynix stock: Q3 operating profit hits a record 83.3 trillion won

What happened. On 28 October South Korea's SK hynix published its third-quarter results. Revenue was 104.6155 trillion won, operating profit 83.3338 trillion won (an 80% margin) and net profit 39.7756 trillion won (a 38% margin). Revenue and operating profit are records, and revenue passed 100 trillion won for the first time in the company's history. CNBC puts that at about 78.86 billion dollars.

The comparison. Against the previous quarter, revenue rose 32% and operating profit 38%. Against the third quarter of 2025, the rise was 328% and 632%. CNBC compares the result with LSEG SmartEstimates: revenue of 104.62 trillion won against 98.34 trillion expected, and operating profit of 83.33 trillion won against 76.72 trillion. Net profit went the other way. It fell 58% from the second quarter, from 93.9226 to 39.7756 trillion won.

What drives growth. The company says prices of key products rose on the back of demand for AI memory. In DRAM, sales of server DDR5 grew and HBM4 shipments began in earnest. In NAND, sales of 321-layer eSSD (solid-state drives for data centers) expanded. The company expects HBM4 to surpass HBM3E in both shipments and revenue in the fourth quarter, and the M15X fab to reach maximum capacity by year-end.

Supply, demand and contracts. SK hynix says supply is not keeping pace with the market and expects demand to exceed supply through 2030. That is the company's own view. It has long-term agreements with 14 major customers, including leading cloud providers. They cover more than 50% of total production capacity for 2027 and 2028. Next year the company expects investment to rise significantly, but says it will adjust its scale and timing flexibly.

Cash and shareholders. At the end of the quarter, cash stood at 114.5 trillion won, borrowings at 15.8 trillion won and net cash at 98.7 trillion won. For 2026 the company plans about 100 trillion won in shareholder returns: dividends of 30 trillion won or more and buybacks of 60 trillion won or more, including the 40 trillion won announced in August. The board approved a third-quarter dividend of 14 trillion won, or 20,000 won per share, and a 20 trillion won buyback. The shares trade on the Korea Exchange, and the global depositary shares on the Luxembourg Stock Exchange. CNBC also notes that last week SK hynix halted its review of a possible IPO for its US subsidiary Solidigm.

Keep in mind. The results are preliminary: the company says the audit is not finished and the figures may change. The outlook on HBM4, demand through 2030 and investment is the company's own expectation, not fact. We did not check the market reaction or analyst views. This is not advice to buy or sell.

Fatos confirmados

• SK hynix third-quarter 2026 revenue was 104.6155 trillion won, operating profit 83.3338 trillion won (80% margin) and net profit 39.7756 trillion won (38% margin).^[1]
• Revenue and operating profit are records; revenue passed 100 trillion won for the first time.^[1]
• Against the previous quarter, revenue rose 32% and operating profit 38%; against the third quarter of 2025, 328% and 632%.^[1]
• Net profit fell 58% from the second quarter (from 93,922.6 to 39,775.6 billion won).^[1]
• Revenue of 104.62 trillion won (about 78.86 billion dollars) against 98.34 trillion expected; operating profit of 83.33 trillion won against 76.72 trillion (LSEG SmartEstimates).^[2]
• Sales of server DDR5 grew, HBM4 shipments began in earnest, and sales of 321-layer eSSD expanded.^[1]
• The company expects HBM4 to surpass HBM3E in shipments and revenue in the fourth quarter, and the M15X fab to reach maximum capacity by year-end.^[1]
• SK hynix expects demand to exceed supply of memory through 2030.^[1]
• Long-term agreements are signed with 14 major customers and cover more than 50% of production capacity for 2027 and 2028.^[1]
• Cash is 114.5 trillion won, borrowings 15.8 trillion won and net cash 98.7 trillion won.^[1]
• Plan for 2026 shareholder returns: about 100 trillion won, of which dividends of 30 trillion won or more and buybacks of 60 trillion won or more, including the 40 trillion won announced in August.^[1]
• The board approved a third-quarter dividend of 14 trillion won (20,000 won per share) and a 20 trillion won buyback.^[1]
• The shares trade on the Korea Exchange and the global depositary shares on the Luxembourg Stock Exchange.^[1]
• The results are preliminary, the audit is not finished and the figures may change.^[1]
• Last week SK hynix halted the review of a possible IPO of its subsidiary Solidigm.^[2]

Implicações

• ConfirmadoSK hynix reported record revenue and operating profit for the third quarter of 2026.
• ConfirmadoThe board approved a 14 trillion won dividend and a 20 trillion won buyback.
• Nossa leituraDemand for AI memory feeds straight into memory makers' results, so their reports track AI infrastructure spending.
• Nossa leituraIf HBM4 becomes the main product in the fourth quarter, the company's revenue mix will shift noticeably.

Ainda não se sabe

• Whether HBM4 overtakes HBM3E in the fourth quarter: this is the company's expectation.
• Whether memory supply stays below demand through 2030: this is the company's own view.
• How the market and analysts judge the report: the sources we opened do not say.
• What the final figures will be after the audit.

Quem é afetado

South Korea, United States, Global. People who follow chipmaker stocks, the memory market and AI infrastructure spending

Fontes

1. SK hynix Newsroom: SK hynix Announces 3Q26 Financial Results 27 de outubro de 2026 · oficial
2. CNBC: SK Hynix third-quarter profit sharply beats estimates on AI memory boost 27 de outubro de 2026 · mídia