SK Hynix posts record Q3 operating profit, plans to return about KRW 100 trillion to shareholders, shares surge over 9%

BlockBeats news, October 28 — SK Hynix's third-quarter operating profit reached KRW 83.3 trillion, a record high, exceeding the LSEG-compiled market expectation of KRW 76.7 trillion and about 7.3 times the KRW 11.4 trillion recorded in the same period last year. Quarterly revenue rose 328% year-on-year to KRW 104.6 trillion, as AI infrastructure demand continued to drive memory chip prices higher.

The company plans to implement a shareholder return program totaling about KRW 100 trillion (approximately $75.4 billion) in 2026. According to the company announcement, this includes at least KRW 30 trillion in cash dividends and at least KRW 60 trillion in share buybacks and cancellations, the latter including the KRW 40 trillion buyback announced in August. The company said the KRW 40 trillion buyback was completed last week and the relevant shares will be cancelled soon.

On supply and demand, SK Hynix reiterated that it expects memory chip demand to exceed supply through 2030. To improve visibility on medium- and long-term demand, the company has signed long-term supply agreements with 14 major customers. The supply volume currently locked in corresponds to more than 50% of total capacity for 2027 and 2028, and the company is actively discussing with multiple customers to extend the contract term, which is typically 5 years.

According to data from the BIT stock platform, boosted by the favorable earnings report, SK Hynix shares rose 9.05%, while South Korea's KOSPI index rose about 6.14% over the same period.