SK Telecom (017670) Q3 2026 earnings summary

Executive summary

• Q3 consolidated revenue was KRW 4,497.3bn, up 13.1% YoY and 3.2% QoQ; operating income was KRW 552.3bn and net income KRW 411.8bn.

• Strategy pairs telecom recovery and customer trust with AI services and staged AI data-center infrastructure expansion.

Financial highlights

• Q3 operating income was KRW 552.3bn, up from KRW 48.4bn in Q3 2025; it exceeded KRW 500bn for a third consecutive quarter. 9M operating income was KRW 1,655.9bn.

• Net income was KRW 411.8bn versus a KRW 166.7bn loss a year earlier; QoQ operating income declined 2.4% and net income declined 11.6%.

• EBITDA rose 51.9% YoY to KRW 1,437.5bn, with a 32.0% margin; operating expenses rose 0.4% YoY to KRW 3,945.0bn.

• Separate-company revenue was KRW 3,156.3bn, up 18.4% YoY; operating income was KRW 413.5bn and net income KRW 298.9bn, both returning to profit YoY.

• Basic EPS was KRW 1,917 versus a loss of KRW 766 per share in Q3 2025.

Outlook and guidance

• MNO revenue is expected to continue recovering in Q4, supported by high-quality subscriber acquisition and customer-value initiatives.

• SK Hyper targets initial operating demand by H1 2027 and phased data-center openings from H2 2029; customer terms remain under discussion, focused on Ulsan.

• AIDC plans include data centers in Ulsan and Seoul with ~180 MW capacity; expansion plans cite 137 MW of data-center capacity from 2030 onward and submarine-cable expansion from 2032.

• 5G SA commercialization is planned for Dec. 2026; 5G Advanced rollout will be assessed in phases, and 6G commercial launch is expected after 2030.

• AI services will expand use of the proprietary foundation model across A. (A-DOT) assistant and workplace AI; participation in Korea’s “AI for All” aims to build a broader AI-services ecosystem.