SK Telecom net profit down to ￦947.8B in 2022 but beats expectations

신하늬 2023. 2. 8. 10:10
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Operating profit increased 16.2 percent to 1.61 trillion won, missing the analyst forecast of 1.66 trillion won. Sales grew 3.3 percent to 17.3 trillion won and was in line with the market expectation.

SK Telecom posted an expectation-beating net profit of 947.8 billion won ($755.4 million) for 2022, though down 60.8 percent on year.

The figure was above the analyst forecast of 918.8 billion won compiled by FnGuide.

The steep decline in the net earnings is due to the high base effect caused by the SK Square spin-off in 2021, as equity contributions from SK hynix were excluded in the earnings.

Operating profit increased 16.2 percent to 1.61 trillion won, missing the analyst forecast of 1.66 trillion won. Sales grew 3.3 percent to 17.3 trillion won and was in line with the market expectation.

“The increase in the operating profit was boosted by wireless business,” SK Telecom said in a regulatory filing Wednesday.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]

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