3 telecoms' Q3 profits to jump 84% to $1.04 bil.
Three major telecom companies — SK Telecom, KT and LG Uplus — are expected to report an 83.56 percent year-on-year jump in combined third-quarter operating profits to 1.37 trillion won ($1.04 billion), as one-off costs from last year’s hacking incident and voluntary retirement program fade. Their combined revenue is also forecast to rise 1.54 percent to about 15.35 trillion won. According to…
Three major South Korean telecom companies - SK Telecom, KT, and LG Uplus - are projected to see operating profits surge by 83.56 percent year-on-year in Q3, reaching a combined 1.37 trillion won ($1.04 billion), according to financial data provider FnGuide. This jump is largely attributed to the removal of one-off costs from previous years, including a SIM card data breach that affected SK Telecom and a voluntary retirement program for LG Uplus.
The companies' combined revenue is also expected to rise by 1.54 percent to approximately 15.35 trillion won. SK Telecom is anticipated to lead the recovery, with its operating profit increasing 981.5 percent year-over-year to 523.9 billion won and revenue growing 11.87 percent to about 4.45 trillion won. In contrast, SK Telecom's operating profit fell to 48.4 billion won in Q3 of the previous year after the April data breach, which resulted in significant costs.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- 3 telecoms' Q3 profits to jump 84% to $1.04 bil. koreatimes.co.kr
