New Street Research - KT Corp (ADR) (KTC) KT Corp (Buy, TP: KRW 70,000, +83%) Q2 24 Quick Take: Impacted by one-off cost and B2B restructuring

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New Street Research

Chris Hoare

EUR 9313.00 For Business Accounts Only

KT Corp (Buy, TP: KRW 70,000, +83%) Q2 24 Quick Take: Impacted by one-off cost and B2B restructuring

Q2 was impacted by a decline in its service revenue and a one-off cost related to an early settlement of wage negotiations (KRW 64bn impact). As a result, the stock was down 2% today. However, some of the bright spots remained – sustained growth in Wireless, profitable Enterprise segments, KT Cloud and continued capex moderation.

09/08/2024 1 EN

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KT Corp (ADR)

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US48268K1016 Berlin Stock Exchange South Korea

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Chris Hoare

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KT Corp (Buy, TP: KRW 70,000, +83%) Q2 24 Quick Take: Impacted by one-off cost and B2B restructuring

KT Corp (Buy, TP: KRW 70,000, +59%) New Corporate Value Up Plan Represents a Positive Step Forward

South Korean Telcos Q2 24 review: Softer but capex moderation remains encouraging

Match Group (MTCH, Buy, $54 target) MTCH First Take: Positioning for a break up?

MELI US (Neutral, TP: $2,000, -5%) MercadoLibre Credit cards drive big NIMAL and group EBIT miss

Frontier Post-3Q24 Model Update

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