Q2 2024 KT Corp Earnings Call Transcript
Key Points
- KT Corp (KT) executed a strategic partnership with Microsoft to enhance AI cloud and IT domain capabilities.
- The company is focusing on structural profitability improvement and sustainable intrinsic growth.
- KT Corp (KT) reported a 2.5% year-over-year increase in wireless revenue, driven by 5G subscriber growth and higher roaming revenue.
- The company canceled 5.14 million treasury shares and decided on a Q2 cash dividend payout of KRW500 per share.
- KT Corp (KT) saw a 17.1% year-over-year increase in IDC revenue, driven by global customers and timely monetization of DBO projects.
- Operating profit fell 14.3% year-over-year on a consolidated basis due to collective wage agreements.
- Net income was down 5.1% year-over-year to KRW410.5 billion due to lower operating profit.
- Operating expenses increased by 1.4% year-over-year, driven by higher labor and business costs.
- Revenue for BC Card was down 6.8% year-over-year due to lower acquiring volume following the economic downturn.
- Home fixed line revenue declined 7.8% year-over-year to KRW175.6 billion.
(spoken in foreign language)
(interpreted)
Good afternoon. I'm KT's IRO, Young-Kyun Yoon. Let's begin KT's second quarter 2024 earnings presentation. Do note, that the earnings release call is currently being webcast live on the company website, so you can listen in on the call and follow the presentation slides as we go along.
(spoken in foreign language)
(interpreted)
Let me also remind you that today's presentation includes financial estimates and operating results under the K-IFRS standards that are yet to be reviewed by an outside auditor. We therefore cannot ensure accuracy nor completeness of financial and business data aside from the historical actuals. So we ask that you note that these figures may be subject to changes.
(spoken in foreign language)
(interpreted)
With that I invite CFO Min Jang, to run through the results of the second quarter 2024.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
