SK Telecom’s Security Acquisitions Cover for Weaker Telecom Business
SKT’s operating profit for the first quarter of 2019 was down only 0.9% after reporting a 33% decline in fourth-quarter 2018 driven mainly by strong growth in security revenue due to the ADT Caps acquisition and the consolidation of SK Infosec, SKT’s e-commerce business also reported its first quarterly breakeven at the operating profit level after many years of losses. This was offset by continued declines in its core telecom business which reported mobile service revenue decline of 6.1% and to...
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