SK Hynix reported third-quarter results on Wednesday that sharply exceeded LSEG SmartEstimates forecasts. Revenue rose 327.9% year on year and 31.9% quarter on quarter, while operating profit increased by 632.1% and 37.6%, respectively. The South Korean chipmaker is a major supplier of high-bandwidth memory (HBM) chips to Nvidia and is benefiting from increased spending on data centers and advanced processors. In August, SK Hynix announced a 40 trillion won share buyback and raised its shareholder return target to more than 50% of cumulative free cash flow between 2025 and 2027. Its U.S. subsidiary Solidigm also halted its review of potential pre-IPO fundraising and IPO options, citing market volatility.
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