Equity gains see SK Telecom record good quarterly results

Home > Business > Industry

print dictionary print

Equity gains see SK Telecom record good quarterly results

SK Telecom, Korea’s top mobile carrier, said Tuesday that its third quarter net profit rose 32.4 percent from a year earlier.

Net income reached a record high of 1.04 trillion won ($910.4 million) in the July-September period, compared with a profit of 793 billion won for the same period the previous year, the company said in a regulatory filing.

SK Telecom said shareholding gains from SK Hynix. gave a boost to its quarterly bottom line. SK Telecom holds a controlling 20.1 percent stake in the world’s second-biggest chipmaker by sales.

SK Hynix’s third quarter net profit surged 53.6 percent on-year to 4.69 trillion won on record sales of 11.4 trillion won.

Still, SK Telecom said its operating profit fell 22.5 percent on-year to 304.1 billion won in the third quarter, while sales dropped 5.77 percent to 4.18 trillion won over the cited period.

Shares in SK Telecom fell 2.54 percent to 269,000 won.


Yonhap

More in Industry

Kia plant hit with infections for second time this month

LG Chem gets a boost in battery patent lawsuit against SK Innovation

[TEST DRIVE] There are few rides more comfortable than the Volvo S90

India is the battleground country for Samsung and Apple

Hyundai Motor unveils two electric models at Beijing car show

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now