SK Telecom Co Ltd ADR

SKM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$17.00	Cprg	Hphzgnbb

SKT Earnings: Core Telco Business Steady; Fair Value Estimate Up to USD 31 From USD 30

Dan Baker

Jun 5, 2024

SK Telecom’s first-quarter 2024 result showed steady operating profit from its core telecom businesses, with continued signs of revenue growth slowing as 5G penetration matures. Management continues aggressively pursuing growth in data centers, cloud, and artificial intelligence to offset the core business slowdown. First-quarter revenue increased by 1.8%, with mobile growth of 0.9% and other revenue growth of 4.3%. Other revenue growth was helped by data center revenue growth of 30% and cloud revenue growth of 37%. Cost control and operating leverage assisted in increasing operating income by 8.8%, with most of it generated from the mobile business.

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