
SK hynix Inc. Reports First Quarter 2020 Results
SK hynix Inc. today announced financial results for its first quarter 2020 ended on March 31, 2020. The consolidated revenue of first quarter 2020 was 7.20 trillion won while the operating profit amounted to 800 billion won, and the net income 649 billion won. Operating margin for the quarter was 11% and net margin was 9%.
Despite abrupt changes of external business conditions due to COVID-19, our first quarter revenue and operating income increased by 4% and 239% quarter-over-quarter (QoQ) respectively, driven by increased sales of server products, yield rates improvement, and cost reduction. For DRAM, strong demand of server clients offset the weak mobile demand which declined due to both seasonal slowdown and the COVID-19 impact. As a result, the Company's DRAM bit shipments declined only by 4% QoQ and DRAM average selling price increased by 3% QoQ.
Despite abrupt changes of external business conditions due to COVID-19, our first quarter revenue and operating income increased by 4% and 239% quarter-over-quarter (QoQ) respectively, driven by increased sales of server products, yield rates improvement, and cost reduction. For DRAM, strong demand of server clients offset the weak mobile demand which declined due to both seasonal slowdown and the COVID-19 impact. As a result, the Company's DRAM bit shipments declined only by 4% QoQ and DRAM average selling price increased by 3% QoQ.