{"id":2564,"date":"2023-07-25T23:10:33","date_gmt":"2023-07-25T23:10:33","guid":{"rendered":"http:\/\/localhost:8080\/sk-hynix-reports-second-quarter-2023-financial-results\/"},"modified":"2026-07-20T08:59:05","modified_gmt":"2026-07-20T08:59:05","slug":"sk-hynix-reports-second-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/news.skhynix.com\/en\/sk-hynix-reports-second-quarter-2023-financial-results\/","title":{"rendered":"SK hynix Reports Second Quarter 2023 Financial Results"},"content":{"rendered":"
\u00b7 Revenue at 7.306 trillion won, operating loss at 2.882 trillion won, net loss at 2.988 trillion won<\/strong>
\n\u00b7 Revenue rises; operating loss narrows on increased sales of premium products such as HBM3, DDR5<\/strong>
\n\u00b7 \u201cMemory industry in recovery phase\u2026We aim to accelerate earnings improvement by strengthening competitiveness in AI memory market\u201d<\/strong><\/div>\n

Seoul, July 26, 2023<\/strong>
\nSK hynix Inc. (or \u201cthe company\u201d, www.skhynix.com<\/a><\/span>) today reported financial results for the second quarter of 2023.\u00a0The company recorded revenue of 7.306 trillion won, operating loss of 2.882 trillion won (with operating margin of negative 39%), and net loss of 2.988 trillion won (with net margin of negative 41%) for the three-month period ended June 30, 2023.<\/p>\n

\u201cAmid an expansion in generative artificial intelligence (AI) market, which has largely been centered on ChatGPT, demand for AI server memory has increased rapidly,\u201d the company said. \u201cAs a result, sales of premium products such as HBM3 and DDR5 increased, leading to a 44% sequential increase in revenue for the second quarter, while operating loss narrowed by 15%.\u201d<\/p>\n

According to SK hynix, sales of both DRAM and NAND products increased in the second quarter, with higher average selling price (ASP) of DRAM largely contributing to revenue growth. Although the price for general DRAM products such as DDR4 continued to decline on sluggish PC and smartphone demands, DRAM blended ASP rose in the quarter, offset by increased sales in high-end products used for AI servers.<\/p>\n

Moreover, lower inventory valuation loss, as well as the company\u2019s ongoing cost reduction efforts, helped reduce operating loss.<\/p>\n

* Operating margin in 1H: 1Q23 -67% \u2192 2Q23 -39%<\/p>\n

At the quarterly earnings conference call held today, the company said the demand for AI memory will continue to stay robust, and that a clearer effect of production reduction by memory companies can be seen.<\/p>\n

SK hynix, thereby, aims to expand sales of high-end DRAM products, including HBM3, DDR5 and LPDDR5, as well as 176-layer based SSD products, which would help accelerate earnings improvement.<\/p>\n

The company also announced that it will improve the quality and yields of 1b-nanometer, the fifth generation of the 10nm process technology, DRAM and 238-layer NAND this year and expand the scale of mass production once the industry upturn is visible. But, given that the inventory levels of NAND is higher than DRAM, the company has decided to further reduce NAND production.<\/p>\n

\u201cThe company\u2019s stance on consolidated investment, which is to reduce that by at least 50% compared to 2022, remains unchanged, but with resources secured by management efficiency, we will continue to invest to expand the production capacity of high-density DDR5 and HBM3 that will lead future market growth,\u201d said Kim Woohyun, Vice President and Chief Financial Officer (CFO) at SK hynix.<\/p>\n

\u201cHaving passed the trough in the first quarter, the memory semiconductor market is seen to have entered the recovery phase,\u201d Kim said. \u201cSK hynix will strive to prop up earnings through its technological competitiveness in high-end products.\u201d<\/p>\n

About SK hynix Inc.<\/strong>
\nSK hynix Inc., headquartered in Korea, is the world\u2019s top tier semiconductor supplier offering Dynamic Random Access Memory chips (\u201cDRAM\u201d), flash memory chips (\u201cNAND flash\u201d) and CMOS Image Sensors (\u201cCIS\u201d) for a wide range of distinguished customers globally. The Company\u2019s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com<\/span><\/a>, news.skhynix.com<\/span><\/a>.<\/p>\n

Media Contact<\/strong>
\nSK hynix Inc.
\nGlobal Public Relations<\/p>\n

Technical Leader
\nJoori Roh
\nE-Mail: global_newsroom@skhynix.com<\/span><\/a><\/p>\n

Technical Leader
\nKanga Kong
\nE-Mail: global_newsroom@skhynix.com<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Revenue at 7.306 trillion won, operating loss at 2.882 trillion won, net loss at 2.988 trillion won Revenue rises; operating loss narrows on increased sales of premium products such as HBM3, DDR5 \u201cMemory industry in recovery phase\u2026We aim to accelerate earnings improvement by strengthening competitiveness in AI memory market\u201d \u00a0 Seoul, July 26, 2023 SK [\u2026]<\/p>\n","protected":false},"author":23,"featured_media":2563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_migrated_source_id":12276,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[7,4],"tags":[59,58,264],"class_list":["post-2564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ir","category-press","tag-earnings","tag-quarterly-earnings","tag-second-quarter-2023"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts\/2564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/comments?post=2564"}],"version-history":[{"count":1,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts\/2564\/revisions"}],"predecessor-version":[{"id":6129,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts\/2564\/revisions\/6129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/media\/2563"}],"wp:attachment":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/media?parent=2564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/categories?post=2564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/tags?post=2564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}