SK hynix this week posted record earnings, operating profits, and net income for 2024. The company managed to more than double its revenue and return to profitability mainly due to increased demand for premium types of dynamic random access memory (DRAM) such as HBM3/HBM3E as well as enterprise-grade SSDs.
SK hynix earned ₩66.193 trillion in revenue ($46.054 billion), ₩23.467 trillion in operating profit ($16.327 billion), and ₩19.797 trillion ($13.776 billion) net profit for the whole of 2024. That compares to ₩32.765 trillion in revenue ($22.8 billion) and a net loss of ₩9.138 trillion ($6.36 billion) in 2023. The company's operating margin was 35% in 2024, up from -24% in 2023. Although the company's revenue climb slowed in the fourth quarter, which is in line with seasonality and dropping 3D NAND prices, SK hynix operating margin still increased during the quarter as it ramped up production of premium HBM3E memory.
