LGU+ Q3 Operating Profit Up 60% Earnings Surprise (Update)

Operating Profit of 251.2 Billion KRW in Q3... 60.6% Increase Year-on-Year

[Asia Economy Reporter Koo Chae-eun] LG Uplus posted an 'earnings surprise' by recording an operating profit of 251.2 billion KRW in the third quarter on a consolidated basis, a 60.6% increase compared to the same period last year, exceeding market expectations.

On the 5th, LG Uplus announced third-quarter results with sales of 3.341 trillion KRW and operating profit of 251.2 billion KRW, representing growth of 5.9% and 60.6% respectively compared to the previous year. The balanced growth of both wired and wireless services, including mobile and smart home (IPTV, high-speed internet), along with efficient cost management, were analyzed as key factors.

Specifically, service revenue increased by 14.4% year-on-year to 2.65 trillion KRW, and the operating profit margin relative to service revenue rose by 2.7 percentage points year-on-year and 0.3 percentage points quarter-on-quarter to 9.5%. Mobile service revenue grew 5.4% year-on-year to 1.3816 trillion KRW due to increases in new and net additional subscribers.

In particular, net additional mobile subscribers reached a quarterly record high of 406,000, bringing the total cumulative mobile subscribers to 16.265 million, an 8.7% increase compared to the same period last year. The number of 5G subscribers reached 2.173 million, accounting for 19.2% of total subscribers (based on handsets).

This content was produced with the assistance of AI translation services.