New Street Research - KT Corp (ADR) (KTC) KT Corp (Buy, TP: KRW 70,000, +68%) Q3 24 Quick Take: Top line impacted by non-telco weakness, but strong margins lead to profit beat

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New Street Research

Chris Hoare

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KT Corp (Buy, TP: KRW 70,000, +68%) Q3 24 Quick Take: Top line impacted by non-telco weakness, but strong margins lead to profit beat

KT saw weaker service revenue but better headline EBIT and bottom-line growth from a lower base last year. Mobile kept steady and core B2B inflected to growth despite restructuring efforts, service revenue trend was impacted again by weakness in Content and BC Card.

08/11/2024 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, +68%) Q3 24 Quick Take: Top line impacted by non-telco weakness, but strong margins lead to profit beat

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

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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