Seoul – Leading mobile carrier SK Telecom Co. said its net profit rose 4.6 percent on-year in the second quarter on a broader customer base and higher revenue from wireless internet services. Net income stood at 311.6 billion won (US$251 million) in the April-June period, compared with 298 billion won a year earlier, the company said in a regulatory filing. Compared with the previous quarter, earnings dropped 1.6 percent. Sales rose 4.7 percent to 3.07 trillion won, while operating profit rose 3.8 percent to 553 billion won, it said. The company attributed the rise in the bottom line to an increase in the number of subscribers and more wireless internet revenue. The total number of SK Telecom subscribers climbed 5 percent on-year to reach 23.83 million as of the end of June. Its wireless internet revenue rose 11.8 percent on-year to 671.2 billion won due to strong growth in flat-rate data plan subscribers. Due to intense competition to draw customers, marketing expenses climbed 8.3 percent from a year earlier to 948.6 billion won, the company said. SK Telecom said it invested 319 billion won in the second quarter to secure third-generation capacity and improve call quality. Cumulative capital expenditure in the first half of 2009 gained 10 percent on-year to 667.4 billion won. SK Telecom offered an upbeat outlook for the third quarter, expecting the market to stabilize in the second half of 2009.
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