According to regulatory filings released Wednesday, the telecommunications carrier posted consolidated operating profit of 648.3 billion won ($457 million) for the April to June quarter, down from 1.01 trillion won a year earlier. Revenue fell 10.1 percent to 6.68 trillion won.
Net profit slid 34.5 percent from a year earlier, dragged down partly by a 54 billion won fine imposed last month by the Personal Information Protection Commission.
Revenue from its AX, or AI transformation, business jumped 22.3 percent, buoyed by rising demand from financial firms and growth at cloud unit KT Cloud, even as legacy wireless and fixed-line revenue slipped.
"We will secure new growth engines based on AX while faithfully carrying out our corporate value-enhancement plan, rewarding shareholders and investors with sustained results," Chief Executive Park Yoon-young said.
Shares of KT closed at 52,700 won, 0.19 percent lower than the day before.
AJP Takeaways
• KT's Q2 operating profit fell 36.1 percent year-on-year to 648.3 billion won ($457 million), mainly because last year's quarter was inflated by a one-off property-development gain that produced record earnings.
• Against the first quarter of this year, operating profit rose 34.3 percent, and revenue from the carrier's AX (AI transformation) business jumped 22.3 percent, signaling momentum in its pivot toward AI and cloud.
• KT set a 2028 target of doubling AX revenue from 2025 levels and a 9-10 percent return on equity, backed by about 1 trillion won in cumulative share buybacks and cancellations.
Copyright ⓒ Aju Press All rights reserved.