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 leading telecom firms – SK Telecom, KT, and LG Uplus – anticipate a remarkable 83.56% surge in combined third-quarter operating profits to 1.37 trillion won ($1.04 billion) due to the fading impact of earlier hacking incident and voluntary retirement program costs. Their total revenue outlook also sees a modest 1.54% rise, reaching approximately 15.35 trillion won.
Financial data provider FnGuide attributes the growth chiefly to the lower base from last year, when SK Telecom faced expenses from a SIM card data breach and LG Uplus incurred costs from a voluntary retirement program. This combined figure would represent a 10.47% increase over the 1.24 trillion won recorded in the third quarter of 2024, surpassing earnings levels prior to the incidents.
SK Telecom is projected to spearhead the recovery, with its operating profit surging 981.5% year-on-year to 523.9 billion won and revenue increasing 11.87% to about 4.45 trillion won. The company's operating profit plummeted to 48.4 billion won in the previous quarter following the April data breach that 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
