Korean SK hynixOne of the world’s largest makers of memory chips reported record quarterly earnings on Thursday, helped by strong sales of high-bandwidth memory (HBM) used to generate artificial intelligence.

Here’s how SK hynix’s fourth-quarter results compare to the LSEG SmartEstimate, which is weighted based on more consistent and accurate analyst forecasts:

• Revenue: 19.77 trillion won ($13.7 billion) vs. 19.91 trillion won
• Operating profit: 8.08 trillion won ($5.6 billion) vs. 8.02 trillion won

Operating profit in the October-December quarter increased 15% from the previous quarter, hitting another record high, while revenue also increased 12%.

The chipmaker has benefited from the artificial intelligence server boom and is a major supplier to U.S. chip designers NVIDIA.

“SK hynix emphasized that with the long-term strong demand for artificial intelligence memory, the company achieved its highest performance in history through world-leading HBM technology and profit-oriented operations,” the company said in its statement. earnings release.

HBM is a type of dynamic random access memory (DRAM) in which chips are stacked vertically to save space and reduce power consumption. This technology is commonly used in products such as laptops and personal computers.

SK Hynix, Micron Technology and Samsung Electronics They are the three top manufacturers of HBM chips.

The strong fourth-quarter data set the stage for the company’s annual revenue to reach a record high, exceeding the all-time high in 2022 by more than 21 trillion won. Operating profits, meanwhile, shattered records set during the semiconductor industry’s “super boom” in 2018.