SK Telecom Q4 Net Profit Falls 61%

SK Telecom Corp Ltd SKM reported a 61% drop in its fourth-quarter net profit. SK Telecom's quarterly net profit declined to KRW196 billion (US$175.2 million), versus KRW502.5 billion, in the year-ago period. However, analysts were expecting a net profit of KRW302.8 billion. SK Telecom's operating profit dropped 35.7% to KRW329.4 billion from KRW512.2 billion. Its sales declined 2.3% to KRW3.930 trillion from KRW4.023 trillion. SK Telecom shares closed at $14.02 yesterday.