SK Hynix profit reached a record in the third quarter of 2026 as demand for memory chips used in artificial intelligence systems drove revenue past 100 trillion won for the first time. SK Hynix reported operating profit of 83.33 trillion won, up 632% from a year earlier, on revenue of 104.62 trillion won, up 328%. Net profit reached 39.78 trillion won. The results, released on 28 October 2026, beat analyst expectations and lifted semiconductor shares in the United States and South Korea.
Operating margin reached about 80%, a record high, reflecting higher memory prices and increased sales of advanced products. Revenue rose 32% from the previous quarter and operating profit rose 38%, marking the sixth straight quarter of record revenue and operating profit for the South Korean memory maker. SK Hynix attributed the performance to strong demand for high-bandwidth memory, known as HBM, which supports the processors used to develop and run AI systems.
Shares responded quickly to the SK Hynix profit report. SK Hynix’s Seoul-listed stock closed up almost 11%, while its US-listed receipts rose 13.3% to $164.70 in US trading on 28 October, according to market reports. Micron Technology, the US memory maker most directly comparable to SK Hynix, rose 5.9% to close at $983.23, up $54.47 on the day. The Philadelphia Semiconductor Index rose 1.75% to 11,674 points, with 22 of its 30 constituents rising.
SK Hynix profit and the HBM surge
SK Hynix profit was driven by HBM and advanced server memory. Sales of DDR5 server memory and HBM4, the newest generation of high-bandwidth memory, contributed to growth, and the company said HBM4 products were entering full commercial production. SK Hynix expected HBM4 sales to surpass HBM3E sales in the fourth quarter, according to reports on the results. Average DRAM prices rose nearly 30% from the previous quarter and NAND prices rose about 25%, according to JPMorgan figures cited in market coverage.
In the SK Hynix profit call, company executives said orders for high-bandwidth memory had exceeded available production capacity, with demand estimated at about twice the volume SK Hynix could supply. SK Hynix said its DRAM and HBM supply is largely sold out for the next three years, and it expects tight supply and demand conditions for memory chips to continue through 2030. That outlook runs against the usual memory cycle, in which strong demand leads to higher prices, then to expanded production, then to excess supply.
SK Hynix profit lifts Micron shares
SK Hynix profit gave Micron investors a reason to expect pricing strength to last longer. Micron stock traded up about 4% before the US market opened on 28 October and closed up 5.9%, extending a rise that has more than tripled the shares in 2026. Micron is investing in new facilities in Idaho, and rivals are expanding production as well. If demand slows, today’s pricing conditions could weaken.
Alongside the SK Hynix profit figures, the company also announced a shareholder return program worth about 100 trillion won, or about $75 billion, for 2026, including cash dividends and share buybacks. That plan added to the positive reaction, since it returns a large share of the record profit to investors rather than holding it all for future construction. Micron, with its 2024 US Chips Act funding, can start major share buybacks from 9 December, according to reports on the company’s plans, and analysts have discussed buybacks of about $20 billion per quarter at first.
Other semiconductor shares rose as well. Advanced Micro Devices added 1.8% in premarket trading on 28 October, Nvidia gained 0.8% and Marvell Technology advanced 2.3%, according to reports on the session. In South Korea, SK Hynix’s results helped lift the Kospi index more than 6%, according to Yonhap.
SK Hynix profit and the memory cycle risk
Micron reports its own results in the coming months, and those figures will show whether the SK Hynix profit surge is shared across the industry or concentrated in HBM. SK Hynix guided fourth-quarter DRAM bit growth in the mid-20% range from the previous quarter, according to earnings coverage. The next set of numbers from both companies will test whether memory demand stays ahead of supply into 2027.