SK hynix tops 100 trillion won in quarterly revenue. It expects the memory shortage to last until 2030

In brief

SK hynix reported on 28 October 2026 that third-quarter revenue reached 104.6155 trillion won, the first time its quarterly sales have passed 100 trillion won. Operating profit was 83.3338 trillion won, an 80% operating margin, and net profit was 39.7756 trillion won, a net margin of 38%.

The figures are preliminary. The release states that they are based on K-IFRS, that "Review of the FY2026 Q3 financial results has not been finalized" and that "Figures in this earnings release are subject to changes during the independent auditing process."

What the release shows

• Growth. Revenue rose 32% from the second quarter and 328% from a year earlier. Operating profit rose 38% quarter on quarter and 632% year on year.
• Against forecasts. CNBC reports that the LSEG SmartEstimates were 98.34 trillion won in revenue and 76.72 trillion won in operating profit. AFP reports that SK hynix shares rose almost 9% and the Kospi more than 6%.
• Net profit fell. Net income was 58% lower than in the second quarter, according to the company's own table.
• Product mix. HBM4 shipments "began in earnest". SK hynix expects HBM4 to pass HBM3E in shipments and revenue in the fourth quarter and become its mainstream product.
• Contracts. Long-term agreements with 14 major customers cover more than 50% of production capacity for 2027 and 2028. Prices move within an agreed range.
• Shareholder returns. The company plans about 100 trillion won in returns for 2026. Most of the gains from its Kioxia investment will go to shareholders.
• Solidigm. Chief executive Kwak Noh-Jung said the company has stopped reviewing an IPO of Solidigm, its NAND subsidiary, because of market conditions.

Sources: SK hynix; LSEG SmartEstimates via CNBC.

Why it matters

SK hynix says demand will keep outrunning supply through 2030. It gives two reasons: leading-edge processes are technically difficult, and new fabs take a long time to build. If that is right, memory will remain one of the most expensive and least flexible parts of AI infrastructure. The long-term agreements also show that the largest cloud buyers are locking in supply years ahead. Smaller buyers may find less supply available on short notice.

Samsung Electronics, the other large memory maker, reports on Thursday 29 October. Its results will show whether this pattern holds across the market or is specific to SK hynix.

What leaders should do next

1. Expect GPU servers and cloud AI instances to stay expensive in 2027 budgets. SK hynix's outlook suggests memory costs will stay high.
2. Ask hardware and cloud suppliers how they have secured memory supply and whether their quotes include price-adjustment clauses.
3. Treat these figures as provisional until the audited numbers are published.

Sources and scope

The financial figures, the outlook to 2030, the HBM4, long-term agreement, shareholder return and Solidigm details, and the K-IFRS and audit caveats come from SK hynix's 3Q26 results release, checked on 28 October 2026. The consensus figures are from CNBC, citing LSEG SmartEstimates. The share-price moves and the date of Samsung's results are from AFP. The outlook is the company's own forecast. The budget implications are ByteNib editorial analysis.

Drafted with AI assistance and reviewed by the editor before publication.

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