KT's Q3 Operating Profit Falls 6.1% YoY... Telecom Revenue Declines, AX Orders Rise

KT announced on the 10th that its consolidated operating profit for the third quarter of this year is estimated at KRW 505.3 billion, down 6.1% from the same period a year earlier. Revenue for the same period came to KRW 6.9975 trillion, down 1.8%.

Operating profit fell by more than 6% due to a base effect from one-off property sales gains recorded in the third quarter of last year. However, profit contributions from key group companies in data centers, real estate, and content increased.

KT CI. KT

Excluding subsidiaries, KT's standalone revenue came to KRW 4.9878 trillion, and operating profit was KRW 299.3 billion.

Service revenue from the wireless business fell 3.9% year over year, affected by a customer appreciation program that ran through July. As of the end of the third quarter, 5G subscribers accounted for 83.5% of all mobile phone subscribers.

Revenue from the wired business declined year over year due to lower revenue from home landline services and a drop in advertising revenue from the media business. Subscribers to high-speed internet and IPTV increased 1.4% and 0.5%, respectively, from a year earlier.

Revenue from enterprise services decreased 0.7% year over year due to a base effect from the completion of a large-scale construction project the previous year. However, cumulative orders in business-to-business (B2B) and AI transformation (AX) in the third quarter increased by more than 20% from the same period last year.

Under its corporate value enhancement plan, KT bought back KRW 250 billion worth of its own shares this year, completing the purchase in September. On October 13, it decided to pay a cash dividend of KRW 600 per share for the third quarter. The dividend is scheduled to be paid on November 12.

This content was produced with the assistance of AI translation services.