SK Telecom (CEO Yoo Young-sang) achieved strong results in the third quarter, driven by SK Broadband's record-high quarterly revenue and the smooth progress of subscriptions and the metaverse in its MNO business.

SKT announced its business results for the third quarter of 2021 on the 10th. According to the announcement, based on consolidated financial statements, revenue reached 4.9675 trillion won, a 4.99% increase year-on-year, and operating profit was 400 billion won, an 11.71% increase year-on-year. Net profit was 736.5 billion won, an 87.98% increase year-on-year.

SKT showed balanced growth across all business areas, including MNO and New ICT, in the third quarter.

The MNO business solidified its leadership in the telecommunications market and recorded sales of 3.0274 trillion won, up 2.9% from the same period last year. New ICT sales recorded 1.6309 trillion won, up 6.9% from the same period last year, driven by continued growth centered on the media and S&C (converged security) businesses.

As of the end of September, SKT's 5G subscribers stood at 8.65 million, an increase of 950,000 from the previous quarter (end of June). SKT strengthened its core businesses, such as AI & Digital Infra services, based on the competitiveness built through the commercialization of 5G.

The cloud business has established itself as a new growth engine based on data services, aiming to become a top-tier global cloud provider based on differentiated competitiveness in AI and DT, such as 5G MEC and dedicated line infrastructure, and expanding its Industrial IoT business targeting various industries including manufacturing, security, and finance.

The media business achieved its highest-ever quarterly revenue, recording 1.0244 trillion won, a 6.1% increase compared to the same period last year, driven by factors such as a net increase in IPTV subscribers.

SK Broadband secured 115,000 IPTV subscribers in the third quarter, bringing its total number of paid broadcasting subscribers to 8.91 million, and achieved the top ranking in cumulative net subscriber growth for the first three quarters of this year.

The S&C business (converged security) recorded sales and operating profit of 397 billion won and 37.7 billion won, respectively, growing 12.4% and 11.8% compared to the same period last year.

To take a leap forward as a life care platform, the S&C business changed ADT Caps' name to 'SK Shielders' last month. The name SK Shielders embodies the meaning of creating an environment where customers, society, and everyone can feel safe. SK Shields set a goal to expand the revenue share of cybersecurity and new businesses to 60% by 2025.

Despite intensifying competition, the commerce business recorded sales of 209.5 billion won, a 1.4% increase compared to the same period last year, driven by the growth of the e-commerce market and efforts to differentiate delivery services.

11st launched the 'Amazon Global Store' service and introduced innovative services such as free shipping of overseas direct purchase products through SKT's subscription product 'T Uju'. It is expected that the company will secure market leadership as these new types of services take root.

SK Stoa maintained solid profitability by introducing a variety of products through differentiated product planning and continuing sales growth of 15.5% compared to the same period last year.

Tmap Mobility secured growth momentum by sequentially launching services such as Ansim Daeri, Plus Membership, and pickup services. In addition, UT integrated its existing Tmap Taxi app with the global Uber app in November, taking full-scale steps to strengthen its competitiveness in the taxi market.

ONE Store has recorded transaction volume growth for 13 consecutive quarters and has set a goal to evolve beyond a 'Korean mobile app market' into a 'global multi-OS content platform.'

On November 1, SKT successfully completed a spin-off for a new leap forward and launched as SK Telecom, an AI & Digital Infra service company, and SK Square, a semiconductor & ICT investment company.

SKT has set a goal to increase its annual revenue from approximately 15 trillion won in 2020 to 22 trillion won by 2025, and plans to pursue three core businesses in the fields of wired and wireless telecommunications, AI services, and Digital Infra services.

Based on stable earnings and cash flow, SKT increased the market's dividend predictability by implementing its first quarterly dividend starting from the end of the second quarter of this year, and strengthened shareholder-friendly management by introducing mid-to-long-term dividend guidelines linked to performance.

In addition, starting on the 29th when stock trading resumes following a 5-to-1 stock split at par value, shareholders' investment accessibility will significantly improve due to the expansion of the number of circulating shares. SK Telecom expects to revitalize trading among minority shareholders by transforming into a "national stock" that is easily accessible to everyone.

SKT CFO Kim Jin-won stated, “SK Telecom and SK Square have laid the foundation for a new leap forward through a successful spin-off,” adding, “Based on solid market leadership and innovation, we plan to increase corporate value and grow into a company that is even more loved by customers.”