3 telecoms' Q3 profits to jump 84% to $1.04 bil.
Three major telecom companies — SK Telecom, KT and LG Uplus — are expected to report an 83.56 percent year-on-year jump in combined third-quarter operating profits to 1.37 trillion won ($1.04 billion), as one-off costs from last year’s hacking incident and voluntary retirement program fade. Their combined revenue is also forecast to rise 1.54 percent to about 15.35 trillion won. According to financial data provider FnGuide, the increase largely reflects a low base from last year, when SK Telecom incurred expenses related to a SIM card data breach and LG Uplus recorded costs for a voluntary retirement program. The combined figure would also be 10.47 percent higher than the 1.24 trillion won recorded in the third quarter of 2024, putting earnings above pre-incident levels. SK Telecom is expected to lead the recovery, with an operating profit soaring 981.5 percent year-on-year to 523.9 billion won and revenue rising 11.87 percent to about 4.45 trillion won. The company’s operating profit slumped to 48.4 billion won in the third quarter last year after the breach in April led to costl
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