SK Hynix

SK Hynix 2022 Operating Profit Drops 44 Percent Amid Chip Slump

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SK Hynix is the second-largest memory chip producer in the world, so its quarterly earnings reports are constantly analyzed for industry trends. Unfortunately for SK Hynix, its Q4 2022 results reflected the overall downward spiral of the PC industry during the second half of 2022.

The South Korean company posted its first operating loss in over ten years (dating back to Q3 2012). The company’s poor quarter was compounded by lowered demand for memory chips and a significant drop in memory pricing in Q4. As a result, the company reported revenue of 7.699 trillion won ($6.267 billion), an operating loss of 1.701 trillion won ($1.384 billion), and a net loss of 3.524 trillion won ($2.868 billion). Operating profit plunged 44 percent for the whole year — despite revenue increasing by 4 percent compared to 2021.

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