SK Telecom (Buy, TP: KRW 116,000, +148%) Q2 23 Quick Take: Slower topline bucked by mobile
SKT delivered slower topline growth driven by weaker mobile revenue growth off a steeper ARPU decline in Q2. As a result, EBITDA growth slowed to 0.9% YoY but was within expectations as weaker topline growth was offset by lower labour and commissions cost.SK Telecom is a wireless telecommunications services provider in the Republic of Korea (South Korea). Co. provides the following services: wireless Internet services, which include music portal services, game portal services, multimedia services, and wired and wireless integrated multimedia services; ubiquitous and convergence services, which include telematics, digital home, commerce, mobile radio frequency identification and mobile community; international roaming services, which include global system for mobile communication; video telephony services, which enable subscribers incorporating video conferences, as well as B2B services.
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