BUSINESS

KT posts record-high Q2 operating profit in 4 years

By Kim Young-won
  • Published : Jul 29, 2016 - 10:09
  • Updated : Jul 29, 2016 - 20:41
[THE INVESTOR] Telecommunications firm KT posted second quarter operating profit of 427 billion won (US$379.6 million) -- its highest quarterly operating income in four years -- thanks to solid performances in its wireless network, landline telecom, and media businesses.

The quarterly profit reflected a 15.8 percent increase on-year, KT said on July 29. Sales were up 4.5 percent to 5.68 trillion won. 

KT headquarters

The number of subscribers for KT's Long Term Evolution network service in the second quarter came in at 13.6 million, accounting for 74.1 percent of the firm’s entire mobile network subscribers.

Among its multiple businesses, the media content segment, which offers IPTV services, recorded the highest year-on-year revenue growth rate at 15.1 percent in the three-month period, followed by the firm’s ICT infrastructure and solutions business and the financial business, whose operating income increased, respectively, by 12.4 percent and 7.1 percent on-year.

By Kim Young-won (wone0102@heraldcorp.com)