SK hynix posts first 100-trillion-won quarter as AI memory demand lifts profit 632%
Q3 2026 revenue hit 104.6 trillion won and operating profit 83.3 trillion won, both above analyst estimates, and the memory maker plans about 100 trillion won in shareholder returns.
TL;DR
- SK hynix reported Q3 2026 revenue of 104.6155 trillion won and operating profit of 83.3338 trillion won, an 80% operating margin; quarterly sales topped 100 trillion won for the first time.
- Revenue rose 328% and operating profit 632% from a year earlier; versus Q2 2026 they rose 32% and 38%.
- Both beat LSEG SmartEstimates (98.34 trillion won revenue, 76.72 trillion won operating profit), CNBC reported; shares closed 10.89% higher on Oct. 28.
- The company expects HBM4 to become its mainstream product from Q4, says it has long-term agreements covering more than 50% of 2027-2028 capacity, and sees demand outpacing supply through 2030.
AI memory demand is now producing quarters no chipmaker has booked before. SK hynix said on Oct. 28, 2026 that Q3 revenue reached 104.6155 trillion won, its first quarter above 100 trillion won, with operating profit of 83.3338 trillion won and net profit of 39.7756 trillion won. The operating margin was 80%.
Beat on both lines
CNBC compared the results with LSEG SmartEstimates: revenue of 104.62 trillion won ($78.86 billion) against 98.34 trillion won expected, and operating profit of 83.33 trillion won against 76.72 trillion won. SK hynix shares closed 10.89% higher on Oct. 28, while the Kospi index rose 6.63%.
Net profit fell 58% from Q2 2026 (93.9226 trillion won) but rose 216% from a year earlier, per the company's results table.
What drove it
- DRAM: a significant increase in server DDR5 sales, while HBM4 shipments began in earnest, SK hynix said. CNBC reported server DDR5 shipments rose more than 40% from Q2 and DRAM average selling prices rose by a high-20s percentage.
- NAND: sales of 321-layer TLC eSSD expanded; the company will raise 321-layer output to more than half of its domestic NAND capacity in Q4.
- HBM4: expected to surpass HBM3E in both shipment volume and revenue in Q4 as the M15X fab ramps to maximum capacity by year-end.
Demand visibility and payouts
SK hynix has signed long-term agreements with 14 major customers, including leading cloud providers, covering more than 50% of 2027 and 2028 production capacity. It expects demand to exceed supply through 2030.
For fiscal 2026 the company plans shareholder returns of about 100 trillion won: cash dividends of 30 trillion won or more and buybacks and cancellations of 60 trillion won or more. The board approved a Q3 dividend of 14 trillion won (20,000 won per share, including a 10,000-won special dividend from Kioxia investment gains) and a 20 trillion won buyback. CEO Kwak Noh-Jung also said the company discontinued its review of a Solidigm IPO after weighing recent financial market conditions.
The results are preliminary and the review of Q3 results has not been finalized, the company noted.
What it means for Web3 teams – Analysis
Much of the AI build-out, including compute for crypto-adjacent AI and data-center projects, runs on high-bandwidth memory. A supplier that says demand will exceed supply through 2030 points to continued tight hardware supply for anyone planning GPU-heavy workloads. This is not investment advice.
FAQ
What did SK hynix report for Q3 2026?
Revenue of 104.6155 trillion won, operating profit of 83.3338 trillion won and net profit of 39.7756 trillion won, per the company.
How does that compare with a year earlier?
Revenue rose 328% and operating profit 632% from Q3 2025, according to SK hynix's results table.
Did it beat estimates?
Yes. CNBC cited LSEG SmartEstimates of 98.34 trillion won revenue and 76.72 trillion won operating profit.
What are the shareholder return plans?
About 100 trillion won for fiscal 2026, including a 14 trillion won Q3 dividend and a 20 trillion won buyback approved on Oct. 28, 2026.
Sources
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