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

EUR 9274.00 For Business Accounts Only

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

Pinterest (PINS, Buy, $50 target) First Take: A little soft, but P+ and 3P building into 2025

The Trade Desk (TTD, Sell, $86 target) First Take: 1Q25 Revenue Consensus Likely Lower Tomorrow

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