SK Hynix Q3 profit jumps more than 7-fold, beats forecasts

SEOUL, Oct 28 (Reuters) - South Korean chipmaker SK Hynix reported a more than seven-fold rise in quarterly operating profit to a record high on Wednesday, beating market forecasts, as continued demand for AI infrastructure drove up memory chip prices.

The Nvidia supplier reported operating profit of 83.3 trillion won ($62.8 billion) for the July-September period, compared with 11.4 trillion won a year earlier.

That compared with the 76.7 trillion won LSEG SmartEstimate, which is weighted toward estimates from analysts who are more consistently accurate.

($1 = 1,326.0900 won)