SK Hynix Q3 profit jumps more than 7-fold, beats forecasts

South Korean chipmaker SK Hynix reported a staggering seven-fold increase in quarterly operating profit to a record high in October, surpassing market expectations. The company's profit surged to 83.3 trillion won ($62.6 billion) for the July-September period, compared to 11.4 trillion won a year earlier. This surge was driven by continued demand for AI infrastructure, which has led to a rise in memory chip prices.

SK Hynix also announced plans to pursue shareholder returns totaling approximately 100 trillion won ($75.4 billion) this year. The company aims to achieve this through cash dividends of 30 trillion won and share repurchases and cancellations of 60 trillion won.