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SK hynix Went All In On HBM, And Paid For It With A Bruising Miss On Consensus Expectations For Q2'26
SK hynix's recent financial results revealed a notable revenue miss at $54.6 billion against expectations of $57.7 billion, alongside lower-than-anticipated operating profits. This disappointing performance is attributed to the company’s heavy investments in high-bandwidth memory (HBM) products, which have not yet brought sufficient returns compared to traditional DRAM products. The CEO has projected that 2027 could be a challenging year for the industry, further complicating SK hynix's future outlook.
MonitorConfidence: MediumShort term horizonSupply chain risk: High
Published 29 Jul 2026, 00:20 UTC3 min read
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Summary
TL;DR
- SK hynix reported $54.6 billion in revenue, falling short of $57.7 billion expectations.
- Operating profit was $41.6 billion versus a consensus of $44.2 billion.
- Year-over-year revenue growth was 257% and operating profit growth of 557%.
- The company plans to pivot back towards consumer DRAM production.
- CEO predicts 2027 will be the worst year in the industry's history from a supply perspective.
Interesting facts
- SK hynix's pivot back to consumer DRAM is a strategic shift amidst an HBM-heavy sales mix.
- The company expects to supply 18 billion GB of HBM in 2026 and 24 billion GB in 2027.