South Korean telecom KT Corporation has earned about 6.2 trillion won in the third quarter of this year, as revealed in the latest earnings report.
Also, the company’s operating stood at 382 billion won, a 30% jump from the last year’s same period. The growth of income is the result of extended data centers for businesses, more 5G services, and the increase of subscribers to its content services.
KT Telecom Earnings Report
With over 17 million subscribers, KT Corporation is one of the largest telecom services in South Korea. The company on Tuesday revealed its third-quarter earnings, dictating the grown numbers in all segments.
As per it, the total revenue in Q3 of 2021 stood at 6.2 trillion won, and 382 billion won in operating income. That’s an increase of 3.6% and 30% respectively, from the same period of last year. The growth is driven by all segments, viz data centers, 5G, and content services.
The company’s 5G userbase stood at 5.6 million at the end of Q3 2021, pushing the revenue per user 3.8% year-on-year. Also, the company’s IPTV has added over 100,000 new subscribers in the same period.
Finally, the two newly opened data centers have invited more business clients, which resulted in a revenue increase of 34.7% from a year prior. KT’s AI call assistant for Business has seen a surge in demand too, which the company announced last month for assisting small businesses in after-hours service.
KT Telecom is planning to pay back its customers about 35 billion won as compensation for causing a temporary network shutdown last month, but this will be seen in the fourth-quarter earnings. KT clarified the shutdown was the result of a “routing error”, but not a cyber attack as initially suspected.