Seoul: LG Uplus Corp., a major mobile carrier in South Korea, on Wednesday reported its third-quarter net income of 49.1 billion won (US$33.9 million), marking a significant decline of 63.6 percent from the same period a year earlier.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating income for the July-September period fell by 34.3 percent year-on-year to 161.7 billion won. In contrast, sales saw a rise of 5.5 percent, reaching 4.01 trillion won.

The reported earnings did not meet market expectations. Analysts, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency, had estimated the average net profit to be around 77.6 billion won.