SK Hynix Inc. reported a record-breaking first quarter for 2026, with net profit climbing nearly 400% as the global surge in artificial intelligence infrastructure continues to drive unprecedented demand for specialized memory components. The South Korean semiconductor giant released its financial results on Thursday, April 23, 2026, significantly surpassing analyst projections for both top-line revenue and bottom-line earnings.
The company posted a net profit of 40.35 trillion won, equivalent to approximately $27.28 billion. This represents a 397.6% increase compared to the same period in the previous year. Revenue for the quarter reached 52.58 trillion won, nearly tripling the figures from a year ago and marking the first time the company’s quarterly revenue has exceeded the 50 trillion won threshold. Operating profit skyrocketed 405.5% to a record 37.61 trillion won, resulting in an operating margin of 72%.
These results underscore the central role of high-bandwidth memory (HBM) in the company's current financial performance. SK Hynix remains a primary supplier of HBM3E and next-generation memory modules for the high-performance computing market, specifically for AI processors manufactured by companies such as Nvidia. Executives noted during an analyst call that production capacity for HBM is effectively sold out through 2026, as customers prioritize securing volume over price to support their AI scaling efforts.
Despite the record-setting figures, market reaction was tempered following a year of significant gains in the semiconductor sector. SK Hynix shares experienced volatile trading in Seoul, initially surging before paring gains to close 0.2% higher at 000660.KS. In the United States, shares of competitor Micron Technology Inc. (MU) declined by 1.4% during the session. The movement follows a period where both companies have seen their stock prices rise more than sixfold over the preceding 12 months, reflecting high expectations for the memory cycle.
During the earnings presentation, SK Hynix management announced plans to significantly increase capital expenditure throughout the 2026 fiscal year. The investment is directed toward expanding production facilities, including the acceleration of the Yongin Cluster fab, and advancing the development of HBM4 technology. However, the company cautioned that significant new manufacturing capacity across the industry is not expected to impact global supply until mid-2027 at the earliest, suggesting a continued period of tight market conditions.
The report also highlighted that while HBM remains the primary growth catalyst, revenue was bolstered by a recovery in the broader memory market. Prices for conventional DRAM and NAND flash products rose sharply over the quarter, driven by a shift in production resources toward high-value AI components. SK Hynix stated it would continue to prioritize its high-margin product mix to maintain its competitive advantage as AI applications evolve from model training to real-time inference. The company also noted that its cash and cash equivalents reached 54.3 trillion won by the end of the quarter, providing a strong foundation for its multi-year expansion strategy.