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SK Hynix posts its highest quarterly revenue since 2018 on strong chip demand

SEOUL, Oct 26 (Reuters) – SK Hynix (000660.KS) posted its highest quarterly working revenue since 2018 as demand for server and cell reminiscence chips remained strong, offsetting a slowdown in private laptop gross sales as COVID-19 lockdowns eased.

The world’s second-biggest reminiscence chipmaker, which serves clients together with Apple Inc (AAPL.O), stated on Tuesday that working revenue rose to 4.2 trillion received ($3.57 billion) within the July-September quarter, up from 1.3 trillion received a 12 months earlier.

That compares with a Refinitiv Smartestimate of a 4.1 trillion received revenue, based mostly on polling from 18 analysts. The Smartestimate provides extra weight to constantly correct analysts.

Third quarter income rose 45% on-year to 11.8 trillion received.

($1 = 1,177.2300 received)

Reporting by Joyce Lee and Heekyong Yang; Editing by Sam Holmes and Christopher Cushing & Shri Navaratnam

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji