KT Q2 profit beats expectations on robust core businesses

KT Corp., Korea's No. 2 mobile carrier, on Monday reported better-than-expected earnings for the second quarter on the back of solid growth in its core businesses. Net profit came to 733.3 billion won ($527.6 million) in the April-June period, up 78.6 percent from a year earlier, the company said in a regulatory filing. The earnings beat market expectations. The average estimate of net profit by analysts stood at 683.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Operating profit for the second quarter jumped 105.4 percent on-year to 1.01 trillion won. Revenue increased 13.5 percent to 7.42 trillion won. It marks the first time KT's quarterly operating profit surpassed 1 trillion won. The company attributed the strong performance to its flagship mobile business, which saw sales rise 1.6 percent from a year earlier on the back of growth in fifth-generation (5G) subscriptions. The number of 5G users accounted for 79.5 percent of its total mobile subscriptions. Fixed-line business sales rose 1.4 percent over the cited period on the back oWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times