SK hynix reported record quarterly revenue and GE Vernova raised its 2026 outlook as the chipmaker cited sustained memory demand and the power-equipment company reported a larger backlog.
CNBC host Jim Cramer listed the two companies among 10 things to watch in his Investing Club column for Wednesday, Oct. 28. Their company disclosures showed strong results in memory chips and electricity infrastructure.
For the quarter ended Sept. 30, SK hynix posted preliminary revenue of 104.6155 trillion won, operating profit of 83.3338 trillion won and net profit of 39.7756 trillion won. The increases from a year earlier were 328%, 632% and 216%, respectively. Revenue topped 100 trillion won for the first time, the company said. SK hynix said the preliminary results remain subject to independent audit.
The chipmaker expects memory demand to exceed available supply through 2030. It cited the complexity of advanced manufacturing and the time required to bring new production facilities online. Agreements with 14 major customers cover more than half of total production capacity for 2027 and 2028, SK hynix said. HBM4 shipments are underway. The company expects HBM4 to become a mainstream product in the fourth quarter of 2026.
GE Vernova reported third-quarter revenue of $12.642 billion, up 27% year over year, and orders of $29.3 billion, up 96% organically. Its backlog increased $20 billion from the previous quarter to $197 billion. The company raised its 2026 revenue outlook to $46.5 billion-$47.5 billion, its adjusted EBITDA margin outlook to 13.5%-14.5% and its free cash flow outlook to $16 billion-$17 billion.
GE Vernova expects backlog to exceed $200 billion in the fourth quarter and gas equipment under contract to reach at least 130 gigawatts by year-end. Those are the company’s next stated milestones for its order book and gas equipment commitments.
