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Published on : Jan 29, 2015

South Korea’s leading mobile operator SK Telecom Co. said on Thursday that its fourth quarterly earnings jumped owing to a surge in number of subscribers who switched to its speedier mobile internet connection. Another reason for this jump in earnings was due to an increase in sales from the business solution services division of SK Telecom.

The net profit came to a total of 503.3 billion won in the period of October to December. This number rose by 71.4 per cent from 293.6 billion won which was calculated in the previous year. However, this figure has shown a 5.2 per cent fall compared to the last quarter, SK Telecom said in a regulatory filing. 

The filing showed that revenue dropped by 0.1 per cent to 4.28 trillion won on-year. Apart from this, operating profit also fell by 3.9 per cent to 490 billion won during the aforementioned period.

During the entire year of 2014, SK Telecom registered a net profit of 1.79 trillion won. This figure has risen by 11.8 per cent when compared with figures from the previous year. The sales of the company rose 3.4 per cent on year to reach 17.16 trillion won. Operating profit dropped 9.2 per cent to a total of 1.82 trillion won.

The annual results have been in tandem with the median estimate of 1.76 trillion won that was projected by 13 brokerage houses in South Korea. This data has been collected by Yonhap Infomax which is a financial news division of Yonhap News Agency.