(RTTNews) - SK Telecom Co Ltd. (SKM), a South Korean telecom company, on Thursday reported a loss in its third quarter, compared to prior year's profit, mainly with weak revenues.
In South Korea, SK Telecom shares were losing around 2.6% to trade at 52,700 won.
In the third quarter, the company's consolidated net loss attributable to owners of the parent company was 158 billion Korean won, compared to prior year's profit of 269 Korean won.
The latest results included 134.8 billion won penalty from the personal information protectioon commission.
Operating income fell 90.9 percent to 48.4 billion won from 533 billion won last year. EBITDA dropped 34.9 percent to 946 billion Won from 1.45 trillion Won a year ago.
Consolidated revenue for the quarter dropped 12.2 percent to 3.978 trillion won from 4.532 trillion won a year ago.
The company attributed the decline in results to the rollout of the Customer Appreciation Package.
"SK Telecom will prioritize the restoration of customer trust, turn crisis into an opportunity by delivering concrete results in the AI business, and move forward as a stronger company," said Kim Yang-seob, CFO of SK Telecom.
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