SK Telecom Co., Ltd. (NYSE:SKM) Q3 2023 Results Conference Call November 8, 2023 1:00 AM ET
Company Participants
Hee Jun Chung - IRO
Jin-won Kim - CFO
Choi Hwan-seok - Head of Corporate Strategy Office
Kim Ji Hoon - Head of Growth
Kim Ji Hyung - Head of Integrated Marketing Strategy Office
Conference Call Participants
Soojin Kim - Mirae Asset Securities
Joonsop Kim - KB Securities
Hoi Jae Kim - Daishin Securities
Operator
Good morning and good evening. First of all, thank you all for joining this conference call. And now, we will begin the conference of the fiscal year 2023 Third Quarter Earnings Results by SK Telecom. This conference will start with a presentation followed by a divisional Q&A session. [Operator Instructions] Now we shall commence the presentation on the fiscal year 2023 third quarter earnings results by SK Telecom.
Hee Jun Chung
Good afternoon. I am Hee Jun Chung, IRO of SK Telecom. Thank you for joining SK Telecom's earnings conference call.
Today, we will first deliver our presentation on major events, quarterly earnings highlights, and business performances, which will be followed by a Q&A session. The call is attended by our executives from relevant business divisions, including Jin-won Kim, CFO of SK Telecom, and we are providing some consecutive interpretation for the call. As you may know, I would like to remind you that all forward-looking statements are subject to change depending on various factors, such as market and macro situations.
Let me now present our CFO.
Jin-won Kim
Good afternoon. This is Jin-won Kim, CFO of SK Telecom. In September, SK Telecom announced the AI Pyramid strategy to become a global AI company. It aims to lead industrial innovation and achieve its vision of a global AI company through efforts to strengthen its own capabilities to deepen customer relationships by advancing its own AI technologies and launching AI services and through cooperation with diverse domestic and foreign partners, including the K-AI Alliance, the global telco AI Alliance, Anthropic, and OpenAI. We ask for your continued interest and support for our new endeavors.
Now let me report on the consolidated financial results for Q3 of 2023.
Thanks to improved earnings of SK Telecom and SK Broadband, consolidated revenue reported KRW 4,402.6 billion, up 1.4% year-over-year and 2.2% Q-on-Q. Operating income in Q3 posted KRW 498 billion, up 7% year-over-year and 7.5% Q-on-Q. Net income posted KRW 308.2 billion, up 25.5% year-over-year but down 11.4% Q-o-Q due to the base effect of one-off gains in Q2. On a nonconsolidated basis, revenue posted KRW 3,148.4 billion, thanks to gains in roaming business. Operating income and net income reported KRW 407.1 billion and KRW 250.4 billion, respectively.