SKT's operating profit up over 1,000%, turns to black in Q3
SK Telecom (SKT), Korea's top mobile service carrier, said Wednesday its third-quarter operating profit surged 1,041.3 percent from a year earlier, while its net profit shifted to the black during the same period. Operating income for the July-September period was 552.3 billion won ($411.4 million), while sales rose 13.1 percent on-year to 4.49 trillion won. Net profit was 411.8 billion won,…
SK Telecom, South Korea's leading mobile service provider, announced on Wednesday that its operating profit in the third quarter more than quintupled compared to the same period last year, marking a significant turnaround. Operating income reached 552.3 billion won ($411.4 million) for the July-September quarter, up from 0.55 billion won in the previous year.
Sales increased by 13.1 percent year-over-year, reaching 4.49 trillion won during the same period. In contrast, the company's net profit turned from a loss of 166.7 billion won to a profit of 411.8 billion won, reversing a previous year's deficit.
SK Telecom attributed its improved performance to the consistent expansion of its core mobile service business and the burgeoning success of its ventures into artificial intelligence (AI). The company's AI data centers experienced a 6.2 percent year-over-year sales growth, while other AI-related businesses saw a more substantial 27.3 percent increase.
To further bolster its AI infrastructure, SK Telecom established two wholly-owned subsidiaries, SK Hyper and SK Horizon, in July and August, respectively. SK Hyper is currently constructing AI data centers in Ulsan and Seoul, with combined capacities being built up.
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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