Q3 2024 KT Corp Earnings Call Transcript
Key Points
- KT Corp (KT) has set a strategic direction to transform into an ACIT company, aiming for sustainable growth by innovating core businesses and expanding customized offerings.
- The company has entered a strategic partnership with Microsoft to collaborate on AI and cloud services, including the development of a Korean AI cloud service.
- KT Corp (KT) reported a significant increase in operating income, with a 44.2% year-over-year growth, driven by profitability enhancements in core businesses.
- The company announced a shareholder return program, including a share buyback and cancellation plan worth KRW1.1 trillion, aiming to boost shareholder value.
- KT Corp (KT) is experiencing growth in its cloud and real estate businesses, with cloud revenue increasing by 6.8% year-over-year and real estate revenue growing by 3.6%.
- KT Corp (KT) reported a slight decrease in total consolidated revenue due to weak performance in its content subsidiary.
- The media business faced challenges with a decline in PV and advertising revenue, resulting in a 1.2% year-over-year revenue decrease.
- Home telephone revenue decreased by 7.6%, indicating a decline in traditional telecommunication services.
- The content subsidiary experienced an 18.3% year-over-year decline in revenue due to a shrinking market.
- BC Card, a major subsidiary, posted a 6.5% decrease in revenue year-over-year, mainly due to a decline in credit card sales.
Good morning and good evening. Thank you all for joining this conference call. And now we will begin the conference of the third quarter of fiscal year 2024 earnings results by KT. We would like to have welcoming remarks from Ktiro and then CFO will present earnings results and entertain your questions. This conference will start with a presentation followed by a Q&A session. If you have a question, please press star one that is star and one on your phone during the Q&A.
Now we would like to turn the conference over to Ktir O.
Good morning. I am Yong Yun Yun Iro of KT. We will now begin the earnings presentation for the third quarter of 2024. This earnings call is being webcast live on the company website. Slides are also available for you to follow while listening to this call. Please note that today's presentation includes estimates of financial and operating performance based on K IRS that have not been reviewed by an outside auditor. Therefore, other than confirmed historical data, we
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