KT’s second-quarter profit exceeds 400 billion won

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KT’s second-quarter profit exceeds 400 billion won

Leading telecom service provider KT surpassed a quarterly profit of 400 billion won ($356 million) for the first time in four years, the company said Friday. It attributed the Q2 performance to the stable growth of its wireless communication and media content services.

KT posted a 427 billion won operating profit in the second quarter, a 15.8 percent year-on-year increase. Its revenue was 5.68 trillion won, 4.5 percent higher than the previous year.

Sales from the wireless business grew 2.8 percent thanks to a boost of 200,000 subscribers in the second quarter. The company said new subscribers were attracted to the concept of having a second device and by KT’s various mobile LTE packages.

Thanks to the earnings surprise, KT shares closed at 31,750 won on Thursday, a 0.79 percent increase from the previous trading day.

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