SK Hynix Posts Record Profit, Announces More Than $25 Billion in Shareholder Returns

SK Hynix posted its highest quarterly profit on record, beating estimates as the South Korean chipmaker reported results Wednesday.

The company also announced a shareholder-return package worth more than $25 billion. It combines dividends with stock buybacks.

Memory and AI-related shares moved higher in U.S. premarket trading Wednesday. The results follow a third-quarter profit outlook for Samsung Electronics and SK Hynix.