KT reports 33% jump in Q3 net income

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KT reports 33% jump in Q3 net income

Published: 08 Nov. 2024, 11:10

Kim Hoon-bae, executive vice president of KT's media platform business unit, introduces Genie TV's set-top box 4 during a press event held in Jung District, central Seoul, on Tuesday. [KT]

KT on Friday reported its third quarter net income of 383.2 billion won ($276.9 million), up 32.9 percent from a year earlier.

The company said in a regulatory filing that it posted 464.1 billion won in operating profit for the quarter, compared to 321.9 billion won a year ago. Sales fell 0.6 percent to 6.65 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 302.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Yonhap