UPDATE: SK Telecom Q1 Net Profit Down 40%
SK Telecom Co (NYSE: SKM) reported a 40% drop in its first-quarter net profit.
SK Telecom's quarterly net profit fell to KRW323.3 billion (US$287 million), from KRW537.3 billion in the year-ago period, and versus analysts' estimates of KRW335 billion.
Its operating profit declined 26.4% to KRW452.3 billion from KRW614.3 billion. Its sales gained 2.0% to KRW3.986 trillion from KRW3.909 trillion.
SK Telecom's overall average revenue per user (ARPU) dropped to KRW39,126 from KRW40,393.
SK Telecom shares closed at $13.59 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.