Sk Telecom ( (SKM) ) has released its Q3 earnings. Here is a breakdown of the information Sk Telecom presented to its investors.
SK Telecom, a leader in the mobile industry, is transforming into a global AI company by focusing on AI Infrastructure, AI Transformation, and AI Services.
In its latest earnings report, SK Telecom announced a consolidated revenue of KRW 4.5321 trillion for the third quarter of 2024, reflecting a 2.9% increase from the previous year. The company highlighted its focus on AI-driven growth and strategic enhancements in telecommunications and AI core businesses.
Key performance indicators showed a 7.1% increase in operating income, reaching KRW 533.3 billion, attributed to operational efficiencies and AI integration. The net income, however, saw a decline to KRW 280.2 billion. The company’s AI segment reported significant growth, with the AI data center business seeing a 14% year-on-year revenue increase and the enterprise cloud business experiencing a 30% surge.
In addition to strong financial metrics, SK Telecom is advancing its AI infrastructure with plans to launch an AI data center in Seoul and an AI cloud service offering GPU-as-a-Service. The mobile segment also demonstrated robust growth, with 5G subscribers exceeding 16.58 million, representing a significant portion of the company’s user base.
Looking ahead, SK Telecom remains committed to enhancing shareholder value by focusing on its telecommunications and AI businesses, aiming to drive future growth and maintain its leadership position in the industry.
