SK Hynix's operating profit in the first quarter soared more than four times year-on-year, reaching a historic high.

South Korean storage chip giant SK Hynix Corporation announced on Thursday that its first-quarter revenue and profits reached historical highs, driven by strong demand for high-bandwidth memory and other memory products. According to regulatory filings submitted by the company, net profit in the first quarter reached 40.34 trillion Korean won, an increase of 397.6% year-on-year. Operating profit increased by 405.5% year-on-year to 37.61 trillion Korean won. Revenue increased by 198.1% to 52.57 trillion Korean won.