SK hynix is the memory maker most tied to AI, because it supplies much of the HBM inside NVIDIA's accelerators. It reports next week. Here's the setup, using only what the company has said so far.
When
Per its Form 6-K (Oct 14, 2026), the Q3 2026 earnings call is Oct 28, 2026 at 9:00 a.m. Seoul time. In Toronto that's 8:00 p.m. ET on Tuesday, Oct 27. The webcast is in Korean and English. It lands the same week as Microsoft, Alphabet and Amazon (Big Tech earnings week).
Where it left off: Q2 2026 (reported Jul 29)
From SK hynix's Q2 release, in trillions of Korean won:
| Q2 2026 | Q1 2026 | Q2 2025 | |
|---|---|---|---|
| Revenue | 79.32 | 52.58 | 22.23 |
| Operating profit | 60.54 | 37.61 | 9.21 |
| Operating margin | 76% | 72% | 41% |
| Net profit | 93.92 | 40.35 | 7.00 |
- Revenue rose 257% YoY and operating profit 557%.
- Net profit was higher than revenue (a 118% net margin). The release doesn't break down the non-operating items behind that, so look for it in the Q3 materials.
- Cash reached 88 trillion won; total debt fell to 18.6 trillion won; net cash 69.4 trillion won.
- The company flagged the figures as preliminary and unaudited at the time.
What the company said about the business
- HBM4: mass shipments started in Q2, with production ramping in the second half. HBM4E samples shipped in the first half. (Context: the HBM4 race.)
- Contracts: long-term agreements with around 10 customers, with more talks under way.
- Capacity: accelerating the M15X fab schedule; Yongin Phase 1 cleanroom opening in early 2027; P&T7 packaging and M17 NAND plans to be phased in based on demand.
- NAND: 321-layer products are its largest share of production, targeted at about 50% of domestic capacity by year-end.
- It said customer demand "exceeds supply capabilities."
What to watch on Oct 27/28 (Toronto/Seoul)
- Margin direction. Memory prices kept rising in Q3 but more slowly. TrendForce expects DRAM prices up about 20% QoQ in Q4 2026.
- HBM4 volumes and 2027 contracts. Has the second-half ramp landed?
- Market share. TrendForce put SK hynix at 24.9% of DRAM revenue in Q2 2026, behind Samsung's 39.4% (via TrendForce). CXMT is rising too (CXMT explained).
- Capex. "CapEx discipline" vs new fabs.
- Read-across. Micron's FQ4 showed the same pattern (Micron's record quarter), and it's why RAM is so expensive.
