Q3 2024 SK Telecom Co Ltd Earnings Call Transcript
Key Points
- SK Telecom Co Ltd (SKM) reported a 2.9% year-over-year increase in consolidated revenue for Q3 2024, driven by stable growth in roaming and B2B solution businesses.
- Operating income increased by 7.1% year over year, attributed to cost stabilization in marketing and depreciation.
- The company has established a strong AI Pyramid Strategy, focusing on AI data centers, AI B2B, and AI B2C to generate profit.
- Data center revenue grew by 14% year over year, indicating higher utilization and potential for short-term results in AI monetization.
- SK Telecom Co Ltd (SKM) has a robust 5G subscriber base, with 16.58 million subscribers, accounting for 73% of the total subscriber base.
- Consolidated net income fell by about 9% year over year due to recognition of valuation losses from investment assets as non-operating expenses.
- Despite the positive market response to AI initiatives, the company faces challenges in monetizing AI services effectively.
- SK Telecom Co Ltd (SKM) was not included in the core value index announced by the Korean Exchange, indicating potential concerns about market perception.
- The company faces competition in the AI B2C market, traditionally led by platform companies, which may impact its market share and profitability.
- There is uncertainty regarding the year-end dividend, as it depends on the closing of the fourth quarter earnings and board deliberation.
(spoken in Korean)
Good morning and good evening. Thank you all for joining the conference call for the earnings results of SK Telecom. (Operator Instructions) Now, we will begin the presentation on SK Telecom's third-quarter earnings results of the fiscal year 2024.
(spoken in Korean)
Good afternoon. I am Hee Jun Chung, IRO of SK Telecom. Thank you for joining SK Telecom's earnings conference call.
(spoken in Korean)
Today, we will first deliver a presentation on major events, 2024 Q3 earnings highlights, and business performances, which will be followed by the Q&A session.
(spoken in Korean)
The call is attended by our executives from relevant business divisions, including Yang Seop Kim, CFO of SK Telecom, and we are providing consecutive interpretation for the call.
(spoken in Korean)
I would like to remind you that all forward-looking statements are subject to change, depending on various factors, such as market and macro
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