SK Hynix posts record fourth quarter profit as chip demand remains firm

Reuters News
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Posted: Jan 24, 2018 5:43 PM

SEOUL (Reuters) - South Korea's SK Hynix Inc on Thursday said fourth-quarter operating profit nearly tripled from a year earlier to a record high, beating market expectations on strong demand for memory chips.

The world's second-biggest memory chip maker behind Samsung Electronics Co Ltd said October-December profit was 4.5 trillion won ($4.23 billion). That compared with a 4.3 trillion won Thomson Reuters StarMine SmartEstimate from a survey of 12 analysts.

Revenue rose 69 percent to 9 trillion won.

(Reporting by Joyce Lee; Editing by Sandra Maler)