Seoul: SK Telecom Co., South Korea's leading mobile carrier, on Thursday reported a significant decline in its fourth-quarter net profit, registering 97 billion won (US$66.1 million), which marks a 75.4 percent decrease from the same period the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the October-December period fell by 53.1 percent year-on-year to 119.1 billion won. Additionally, SK Telecom's revenue experienced a downturn, decreasing by 4.1 percent to 4.32 trillion won.
Despite the decline in net income and operating profit, the earnings surpassed market expectations. Analysts had predicted an average net profit of 37.5 billion won, as per a survey conducted by Yonhap Infomax, the financial data wing of Yonhap News Agency.