SK Telecom Third-Quarter Net Profit Down 54.2%

SK Telecom Co

reported a 54.2% drop in its third-quarter net profit. SK Telecom's quarterly net profit fell to 175.6 billion won (US$161 million), from KRW384 billion, in the year-ago period. However, analysts were expecting a profit of KRW196 billion. Its sales climbed 2% to KRW4.126 trillion from KRW4.045 trillion, while operating profit declined 46.4% to KRW300.7 billion from KRW560.7 billion. SK Telecom's overall average revenue per user dropped to KRW40,265 from KRW40,503. SK Telecom shares closed at $15.68 yesterday.