KT Corp Reports Flat Q2 Revenue, Focuses on AICT Transition
Seongnam, South Korea - KT Corp (030200. KS) reported flat revenue growth in the second quarter as gains in wireless and B2B services were offset by the restructuring of low-profit businesses.
KT's consolidated revenue was KRW 6.55 trillion (US$4.75 billion) in Q2, unchanged from a year earlier. Operating profit fell 14.3% to KRW 494 billion (US$358 million).
The company saw steady growth in its core wireless business, with service revenue up 2.7% year-over-year.
5G subscribers exceeded 10 million, reaching a penetration rate of 75%.
However, overall ARPU growth remained modest at 1.6%.
KT has been pursuing structural change to enhance profitability and transforming into an AICT company to strengthen growth potential.
KT's B2B service revenue declined 1% as the company focused on improving profitability.
Cloud subsidiary KT Cloud saw revenue jump 17.1%.
With a net debt-to-equity ratio of 33.5%, down 11.1 percentage points year-on-year, KT maintains a solid balance sheet to fund its strategic transformation.
The company has emphasized shareholder returns, paying a quarterly dividend and canceling 2% of outstanding shares.