SK Telecom Swings to Profit in Q3 with 411.8 Billion Won Net Income

On November 4, South Korean telecom operator SK Telecom released its third-quarter earnings report, showing consolidated net profit of 411.8 billion won, compared with a net loss of 166.7 billion won in the same period last year, and above the market expectation of 346.3 billion won. Revenue rose 13.1% year on year to 4.4973 trillion won, and operating profit surged 1,040.3% to 552.3 billion won, both exceeding market expectations. The company said revenue from its wireless and fixed-line telecom businesses returned to growth, driving overall profit improvement.