[News] Q2 Memory Earnings Preview: What to Watch From Samsung, SK hynix, and Kioxia
As AI continues to drive memory demand, the earnings of the world’s leading memory makers are drawing close industry attention. According to TechNews, the three major memory manufacturers—SK hynix, Samsung Electronics, and Japan’s Kioxia—are all set to report their latest quarterly earnings this week. Beyond serving as a gauge of their profitability, the results are expected to offer insights into the future direction of global AI infrastructure investment and memory supply-demand dynamics.
Samsung Eyes Record Earnings, Expands HBM Ambitions
Samsung Electronics is scheduled to release its full second-quarter earnings on July 30. As TechNews indicates, based on its preliminary results, the company reported revenue of KRW 171 trillion, while operating profit surged about 18-fold from a year earlier to a record high. Consensus estimates compiled by the London Stock Exchange Group (LSEG) forecast second-quarter operating profit of KRW 86 trillion, with some brokerages projecting as much as KRW 90 trillion, implying an operating margin of up to 51%. If achieved, Samsung would surpass Nvidia’s fiscal 1Q26 results to post the highest quarterly profit ever recorded by a global technology company.
The report also notes that Kim Yong-kwan, head of Samsung’s semiconductor division, told an internal meeting that the company’s 2026 profit alone would exceed the cumulative profit generated over its four decades in the semiconductor business.
Meanwhile, the report says Samsung is deepening its partnership with Google while expanding HBM4 and HBM4E supplies to NVIDIA as it seeks to reclaim leadership in the high-bandwidth memory (HBM) market by 2027. Despite the strong earnings outlook, the report notes that investors remain concerned that major technology companies could scale back AI infrastructure spending, potentially weighing on future demand for AI chips and memory.
SK hynix’s Earnings Outlook
SK hynix, the current leader in the HBM market, is scheduled to report second-quarter earnings on July 29. According to TechNews, supported by higher DRAM and NAND flash memory prices, South Korean brokerages expect the company to post revenue of KRW 84.1 trillion and operating profit of KRW 64.1 trillion. Chosun Biz also notes that securities firms forecast an operating profit margin of 75%–77% for the second quarter, up slightly from 72% in the previous quarter. If realized, SK hynix would surpass TSMC in operating profit margin for the quarter.
Citing industry analysts, Chosun Biz also says that as long-term agreements (LTAs) account for a larger share of shipments, sales to major technology companies and AI data center operators are expected to rise to 70% of total revenue.
Kioxia’s Earnings Outlook and NAND Market Trends
Japanese NAND flash memory maker Kioxia is scheduled to report second-quarter earnings on July 31. As noted by TechNews, the market expects the company’s second-quarter profit to double from the previous quarter.
For the longer-term NAND outlook, TrendForce expects server demand to remain strong through 2027. However, continued process migrations by suppliers, steady growth in bit output, and weak consumer electronics demand are expected to gradually restore market balance, with the current supply tightness easing in the second half of 2027.
Read more
- [News] SK hynix Reportedly Removes Price Cap in Memory Long-Term Agreements, Diverging from Micron
- [News] Samsung Reportedly Seeks Up to 20% 3Q26 DRAM Price Increase; LPDDR Hikes May Exceed 20%
(Photo credit: SK hynix)
