South Korea's No. 2 mobile carrier KT Corp. said Friday its second-quarter operating profit rose nearly 5 percent from a year ago, helped by improved revenue in its media business.
(Yonhap)
Operating profit came to 447.3 billion won (US$400.6 million) for the April-June period, compared with a profit of 426.9 billion won for the same quarter last year, the company said in a regulatory filing. This represents a 4.8 percent on-year gain.
Second-quarter net income inched up 1.1 percent on-year to 258.1 billion won and sales came to 5.8 trillion won, up 2.9 percent over the cited period.
The figures hovered above the market forecasts. Local brokerages had predicted that sales of the No. 2 player at 5.73 trillion won, up 0.9 percent from the year earlier period, with its operating income estimated at 407 billion won, down 4.8 percent over the cited period.
KT said its media and content business posted sales of 5.61 trillion won, sharply up 19.2 percent from a year earlier, as Internet-based TV businesses have emerged as their stable source of profit.
The sales of its fixed-line business decreased 1.7 percent on-year to reach 1.64 trillion won due to changes in its accounting standards.
KT's financial business advanced 6.6 percent on-year in terms of sales to reach 914.7 billion won in the April-June period. (Yonhap)