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SK Telecom Announces 3Q 2019 Earnings Results

Financial results News - Published on Mon, 04 Nov 2019

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SK Telecom announced its earnings for the third quarter of 2019 on a K-IFRS 1115 consolidated basis: revenue of KRW 4.561 trillion, operating income of KRW 302.1 billion, and net income of KRW 274.4 billion. On a consolidated basis, SK Telecom’s revenue increased by 9.0% and operating income decreased by 0.7%, remaining similar to last year’s figures. Net income increased by 5.9% compared to the previous quarter. In particular, mobile communications business revenue edged up by 0.1% YoY, representing an increase for the first time in eight quarters.

Backed by expanded 5G subscriber base, mobile communications business revenue grew by 0.1% YoY and 2.1% QoQ to stand at KRW 2.486 trillion. The number of SK Telecom’s 5G subscribers exceeded 1.54 million as of the end of September 2019.

Affected by the consistent implementation of customer value innovation programs, the company achieved a low churn rate of 1.0% and ranked No.1 in the mobile communications category of Korean Customer Satisfaction Index 2019 for 22 consecutive years.

On a non-consolidated basis, operating income decreased by 18.6% YoY and 8.2% QoQ to KRW 252.8 billion due to expanded costs for 5G marketing and network investment.

For the third quarter, 45% of SK Telecom’s consolidated revenue came from businesses other than the mobile communication business. This shows that the media, security and commerce businesses have become solid drivers of the company’s growth and that SK Telecom is rapidly shifting itself from a mobile operator to New ICT company.

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Posted By : TelecomGuru on Mon, 04 Nov 2019
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