{"id":1513,"date":"2024-08-06T10:48:05","date_gmt":"2024-08-06T01:48:05","guid":{"rendered":"https:\/\/news.sktelecom.com\/en\/?p=1513"},"modified":"2026-01-13T23:48:43","modified_gmt":"2026-01-13T14:48:43","slug":"skt-announces-2q-2024-earnings-results","status":"publish","type":"post","link":"https:\/\/news.sktelecom.com\/en\/1513","title":{"rendered":"SKT Announces 2Q 2024 Earnings Results"},"content":{"rendered":"

\u2022 SKT posts revenue of KRW 4.4224 trillion, operating income of KRW 537.5 billion, and net income of KRW 350.2 billion on a consolidated basis <\/strong><\/p>\n

\u2022 Generates a milestone achievement in AI business by strategically targeting the AI Data Center market <\/strong><\/p>\n

\u2022 Receives the first order to build AI cloud business amidst continuous enterprise business growth, pushing for full scale up <\/strong><\/p>\n

\u2022 Finalizes KRW 830 per share dividend in the second quarter, aiming to achieve optimal balance among investment, financial soundness and shareholder return<\/strong><\/p>\n

\"\"<\/p>\n

SK Telecom (NYSE:SKM, \u201cSKT\u201d) today announced its earnings for the second quarter of 2024 on a K-IFRS consolidated basis: revenue of KRW 4.4224 trillion, operating income of KRW 537.5 billion, and net income of KRW 350.2 billion.<\/p>\n

Compared to the same period last year, SKT\u2019s consolidated revenue and operating income increased by 2.7% and 16.0%, respectively, driven by higher performance in the mobile and fixed telecommunications business of SKT and its major affiliates. Enterprise business revenue grew 11% YoY to KRW 434.2 billion, fueled by higher data center utilization and increased cloud orders.<\/p>\n

In the second quarter, SKT secured its first AI cloud order from domestic internet service providers. The company plans to scale up its AI cloud business significantly.<\/p>\n

On a non-consolidated basis, SKT\u2019s sales reached KRW 3.1915 trillion this quarter, with an operating profit of KRW 450.4 billion and a net profit of KRW 280.3 billion.<\/p>\n

SKT\u2019s strategy is to build an AI value chain, including the AI Data Center and AI service, and to secure its business competitiveness based on the second quarter\u2019s strong performance.<\/p>\n

The company has invested more than $300 million since last year to secure a new AI growth engine, accelerating the expansion of the company\u2019s global partnership in order to create tangible results in key areas of the AI business.<\/p>\n

The data center business recorded a 20.5% YoY revenue growth, backed by a continuous increase in utilization rate. SKT is investing $200 million in SMART Global Holdings (SGH), a leading designer and developer of high-performance, high-availability enterprise solutions in the U.S. This aligns with SKT\u2019s strategy to evolve and develop its existing data center business into an AI data center, which has recently seen a surge in demand. Both companies have agreed to cooperate in all areas of AI infrastructure, including AI data centers.<\/p>\n

The mobile business continued to drive subscriber net additions, securing 16.23 million 5G subscribers by the end of June, with 5G customers making up over 70% of the total user base. SKT also secured 9.6 million pay TV subscribers and 7.05 million broadband subscribers.<\/p>\n

In the enterprise sector, revenue from the IoT businesses rose 29% YoY, and the cloud business grew 28% YoY, excluding one-off effects.<\/p>\n

The dividend per share for the second quarter was finalized at KRW 830, the same as the first quarter.<\/p>\n

\u201cWe will enhance profitability and efficiency by consolidating our fixed and wireless businesses performance and will showcase our progress as an AI company in the second half of the year,\u201d said Kim Yang-seob, CFO of SKT. \u201cWe aim to maximize corporate value and shareholder benefits by balancing growth investment, financial structure improvement and shareholder returns.\u201d<\/p>\n

\u203b The conference call in regard to SKT\u2019s 2Q 2024 earnings results can be heard via SKT\u2019s <\/strong>webpage on Tuesday, Aug 6, from 15:00 Seoul Time.<\/strong><\/p>\n

Link: <\/strong>https:\/\/irsvc.teletogether.com\/skt\/skt2024Q2_eng.php<\/a><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

\u2022 SKT posts revenue of KRW 4.4224 trillion, operating income of KRW 537.5 billion, and net income of KRW 350.2 billion on a consolidated basis \u2022 Generates a milestone achievement in AI business by strategically targeting the AI Data Center<\/p>\n","protected":false},"author":3,"featured_media":2575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[382,16,17],"class_list":["post-1513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-2q2024","tag-earning","tag-earningresults"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/posts\/1513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/comments?post=1513"}],"version-history":[{"count":14,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/posts\/1513\/revisions"}],"predecessor-version":[{"id":2578,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/posts\/1513\/revisions\/2578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/media\/2575"}],"wp:attachment":[{"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/media?parent=1513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/categories?post=1513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.sktelecom.com\/en\/wp-json\/wp\/v2\/tags?post=1513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}