#SKHynixQ3RevenueHitsKRW104.6T

SK Hynix delivered its best quarterly result in company history for Q3 2025.
According to official disclosure, revenue reached 24.4489 trillion won, operating profit 11.3834 trillion won and net profit 12.5975 trillion won. This marks the first time quarterly operating profit has exceeded 10 trillion won. Year over year, revenue rose 39%, operating profit rose 62% and net profit rose 119%. Quarter over quarter, growth was 10%, 24% and 80%. Operating margin stood at 47% and net margin at 52%.
Three drivers shaped this record:
HBM leadership - Sales of 12-high HBM3E were key. Soaring spend on AI infrastructure by global cloud players lifted demand for high value memory.
Server DDR5 and eSSD - Shipments of high capacity DDR5 modules of 128GB and higher more than doubled versus prior quarter. On NAND side, enterprise SSD for AI servers gained major share.
Price cycle - Full scale rise in DRAM and NAND prices combined with higher volume of premium products.
Balance sheet also improved. Cash and equivalents rose by 10.9 trillion won to 27.9 trillion won. Interest bearing debt was 24.1 trillion won, putting company into net cash position of 3.8 trillion won.
Outlook remains strong. Development of HBM4 was completed in September and mass production has started. Shipments will begin in Q4 with full volume ramp planned for next year. The firm said HBM supply agreements for next year are done and total demand for all DRAM and NAND output for next year is already secured.
On production, the plan is to speed up migration to 1c process, the sixth generation of 10nm class, now stable in mass output, and to offer full lineup for server, mobile and graphics. For NAND, output of 321-layer TLC and QLC will expand. M15X fab in Cheongju has opened new clean room and equipment move-in has started, so capex next year is set to rise versus this year.
From trader view, demand is shifting from AI training toward inference, spreading load across general servers. This broadens need for high performance DDR5 and eSSD beyond HBM alone. With leading AI players announcing large data center builds, balanced growth across memory portfolio is expected to hold.
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