SK Telecom said on Thursday it posted 361.5 billion won in operating profit and 4.73 trillion won in sales for the third quarter of 2020, a rise of 19.7% and 3.7%, respectively, year-on-year.
The company also reported a net income of 395.7 billion won, a rise of 44.2% year-on-year. This was thanks to its subsidiary SK Hynix, which SK Telecom owns a 20.7% stake in.
SK Telecom’s mobile business reported operating income of 264.1 billion won and sales of 2.94 trillion won, a rise of 4.5% and 1.0%, respectively. It is the first year-on-year profit increase for the business since the first quarter of 2017.
The carrier said it has 4.26 million 5G subscribers as of the end of September.
SK Telecom stressed the earnings of its so-called new businesses __ media, security and commerce.
The three business combined posted sales of 1.526 trillion won __ operating income stood at 111.1 billion won.
Operating income was 40.3% higher year-on-year, SK Telecom said, and showed that these new businesses have secured their position as its new growth engines.