CXMT expects nearly $20 billion nine-month profit as memory prices climb

First reported by Bloomberg at · Updated · 2 sources

The Chinese memory maker projects a net profit of 131 billion to 132.5 billion yuan for January to September, against a 5.3 billion yuan loss a year earlier. Revenue is expected to reach 265 billion to 270 billion yuan, as AI demand drives memory shortages. The chairman also proposed a buyback of up to 2 billion yuan.

  • Figures are preliminary and cover January to September.
  • Bloomberg says global memory demand sent chip prices soaring.
  • Profit estimate equals about $19.6 billion to $19.8 billion, according to The Next Web.

Covered by 2 publishers within 3 hours of the first report.

Reporting2

Bloomberg China’s CXMT Swings to Profit After Memory Chip Prices Surge · Phila Siu
The Next Web China’s CXMT swings to a nearly $20B profit as memory prices soar · Alina Maria Stan