LG Uplus said its first-quarter revenue and operating profit rose from a year earlier, helped by subscriber growth and expanding enterprise infrastructure business.
The company said Thursday that, on a consolidated basis, first-quarter operating revenue totaled 3.8037 trillion won, up 1.5% from a year earlier. Service revenue rose 3.3% to 3.0370 trillion won, while handset revenue fell 5.2% to 766.9 billion won. Operating profit increased 6.6% to 272.3 billion won.
Mobile revenue rose 3.2% to 1.6526 trillion won, driven by a larger subscriber base and stronger competitiveness in its core telecom business. Mobile service revenue excluding interconnection revenue grew 3.7% to 1.5878 trillion won.
Total mobile subscriptions increased 6.4% from a year earlier to about 30.931 million, with a net gain of 220,000 lines during the quarter. MNO subscriptions rose 7.1% to about 21.967 million, and MVNO subscriptions increased 4.7% to about 8.964 million.
5G handset subscribers climbed 11.0% to 9.473 million, lifting 5G penetration among handset subscribers to 84.2%. MNO service ARPU, excluding IoT and MVNO lines, edged up 0.3% to 35,646 won.
Smart home revenue, which includes IPTV and internet services, rose 4.1% to 656.3 billion won on growth in gigabit internet subscribers.
Internet revenue increased 7.9% to 320.0 billion won. Internet subscribers posted a net increase of 62,000 in the quarter, up 4.5% from a year earlier to 5.64 million.
IPTV revenue rose 1.5% to 335.1 billion won, and IPTV subscribers increased 2.8% to 5.767 million.
Enterprise infrastructure revenue grew 6.3% to 435.6 billion won.
Within that segment, AIDC revenue jumped 31.0% to 114.4 billion won on higher colocation and DBO sales. Solution revenue slipped 0.8% to 117.9 billion won, and enterprise line revenue fell 0.1% to 203.3 billion won.
Voice revenue rose 1.1% to 84.5 billion won. Internet phone revenue declined 1.1% to 40.9 billion won, while corporate and international call revenue increased 3.2% to 43.6 billion won.
Yeo Myeong-hee, LG Uplus chief financial officer and chief risk officer, said the company is focusing on strengthening profitability in its core telecom business and building a stable earnings structure by systematically securing competitiveness in its AX business. She said the company will pursue that strategy consistently to accelerate mid- to long-term growth and continue to enhance corporate value.
LG Uplus said it will not pay a dividend for the first quarter. The company said it will maintain its current policy of paying interim and year-end dividends twice a year instead of quarterly dividends.
* This article has been translated by AI.
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