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SK Telecom's Q4 profit soars 62 pct on reduced costs

All News 09:29 February 03, 2017

SEOUL, Feb. 3 (Yonhap) -- SK Telecom Co., South Korea's largest mobile phone carrier, said Friday its net profit for the fourth quarter of last year jumped 61.7 percent on-year, backed by a decline in marketing costs.

SK Telecom reported a net profit of 474.7 billion won (US$413 million) for the October-December period of last year, compared with a profit of 293.4 billion won for the same quarter in 2015, the company said in a regulatory filing.

Fourth-quarter operating profit, however, fell 24.8 percent on-year to 301.9 billion won. Sales for the quarter stood at 4.35 trillion won, down 0.62 percent from a year earlier.

For all of 2016, SK Telecom reported a net profit of 1.6 trillion won, up 9.5 percent on-year. Its full-year sales fell 0.3 percent to 17 trillion won last year.

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