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SK Telecom Co Ltd ADR SKM Stock Quote

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NYSE:SKM

Morningstar‘s Stock Analysis SKM

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SK Telecom Reports Strong Profit Growth for Core Business; FVE Down to USD 28.05 on Currency

Dan Baker Senior Equity Analyst

Analyst Note

| Dan Baker |

SK Telecom reported another solid result for the third quarter with revenue growth of 3% year on year and operating profit growth of 18.5% year on year. The key was its core mobile business growing operating profit 21.6% year on year driven by an increased 5G customer base and recovery in roaming revenue. While overseas travel has not yet fully recovered, SK Telecom claimed that a 50% increase in the number of people using roaming services may mean that roaming revenue comes back stronger than pre-COVID-19 once overseas travel fully recovers. The fixed-line SK Broadband business was solid but less spectacular in growing operating income by 1.4%. The result puts the business on track to hit its 2022 revenue guidance of KRW 17.4 trillion implying a little over 4% year-on-year growth.

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Key Statistics SKM

Company Profile SKM

Business Description

SK Telecom is South Korea's largest wireless telecom operator, with 30 million mobile customers. The firm also owns SK Broadband (formerly Hanaro Telecom), which has 6.7 million broadband customers and 9.3 million pay TV customers (6.4 million IPTV and 2.8 million Cable TV). While the firm also purchased stakes in businesses in security and semiconductor memory production as well as developing e-commerce and internet platform businesses, these were all spun off into the separate, SK Square business in November 2021.

Contact
SK T-Tower, 65, Eulji-ro, Jung-gu
Seoul, 04539, Korea, Republic of
T +82 261002114
Industry Telecom Services
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2021
Employees 5,054