Posted 1/26/2024, 12:46:59 PM
Memory Chip Maker Returns to Profitability After Price Increases Spur Demand
- Returned to operating profit in Q4 2023 after 4 quarters of losses, earning $258.83 million
- Profit attributed to increased demand and prices for AI server (HBM3) and mobile (LPDDR5X) memory
- DRAM sales up over 400% for DDR5 and 500% for HBM3 year-over-year
- Overall revenue up 47% year-over-year and 25% over previous quarter
- Will increase investments in 3D NAND production in 2024 due to positive price dynamics