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SK Hynix Q3 profit jumps 175% on mobile chip demand

·1 min read

SEOUL, Nov 4 (Reuters) - SK Hynix, the world's No.2 memory chip maker, posted a 175% jump in quarterly operating profit on Wednesday as mobile chip demand rose thanks partly to a rush of orders from Huawei Technologies.

The South Korean company, which counts Apple Inc and Huawei among its customers, reported an operating profit of 1.3 trillion won ($1.15 billion) in the July-September period, up from 473 billion won a year earlier.

Analysts had expected a 1.27 trillion won profit, according to Refinitiv SmartEstimate that is weighted towards more consistently accurate analysts.

Third-quarter revenue rose 19% on-year to 8.1 trillion won. ($1 = 1,131.3600 won) (Reporting by Joyce Lee; Editing by Sandra Maler)