3 telecoms' Q3 profits to jump 84% to $1.04 bil.

Three major South Korean telecom companies, SK Telecom, KT, and LG Uplus, are expected to see a significant increase in their combined third-quarter operating profits. Their profits are forecast to jump 83.56 percent year-on-year to 1.37 trillion won, which is equivalent to $1.04 billion. This increase is largely due to a low base from last year, when the companies incurred one-off costs related to a hacking incident and a voluntary retirement program.

Why it matters

Three major telecom companies are expected to report a significant year-on-year jump in combined third-quarter operating profits. This could lift investor sentiment and pull in foreign capital.

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