SK Hynix swings to surprise profit in Q4 on memory chip rebound

SEOUL -- SK Hynix swung to operating profit in the fourth quarter as the memory chip industry rebounded from a long slump and demand for semiconductors used in artificial intelligence jumps.

SK Hynix, the world's second-largest memory chip maker, said Thursday that its operating profit totaled 346 billion won ($260 million) for the three months through December 2023, recovering from a 1.9 trillion won operating loss during the same period a year earlier. The company's revenue rose 47.4% to 11.3 trillion won during the same period.