Seoul: SK Telecom Co. on Monday announced a slight decrease in its first-quarter net profit, which stood at 361.6 billion won (US$258.3 million), marking a 0.1 percent decline from the same period last year. Despite the reduction in net profit, the company's operating income for the January-March period rose by 13.8 percent to reach 567.4 billion won.
According to Yonhap News Agency, the telecommunications giant reported a 0.5 percent drop in sales, amounting to 4.45 trillion won. However, the company's financial performance surpassed market expectations, with analysts predicting an average net profit of 340.1 billion won, as per a survey conducted by Yonhap Infomax, the financial data provider of Yonhap News Agency.
This financial disclosure highlights SK Telecom's ability to maintain stable profitability amidst fluctuating market conditions, as evidenced by the increased operating income despite a slight decrease in net profit and overall sales.