SK Hynix Q3 profit beats expectations, vows $75 bln in shareholders returns

SK Hynix reported a stronger-than-expected operating profit for the third quarter, surpassing analysts' estimates. The South Korean memory chip company announced plans to return a total of 100 trillion won ($75.5 billion) to shareholders this year through a combination of cash dividends, share repurchases, and bond redemptions. Operating profit for the three months ending September 30 increased by 632% year-on-year to 83.33 trillion won, while revenue rose by 328% to a record 104.615 trillion won and net income jumped 216% to 39.78 trillion won.

The company, which is among the world's leading memory chip manufacturers and has benefited significantly from the artificial intelligence boom, committed to returning 50% or more of its free cash flow to shareholders and intends to share most of the gains from its investment in Japanese memory chip maker Kioxia Holdings back with investors.