SK Telecom (SKT) added nearly 1 million 5G subscribers in Q3 to end September with 8.65 million, doubling next-generation subs year-on-year and helping the operator record a fifth straight quarter of ARPU gains.

Net profit jumped 88 per cent year-on-year to KRW736.6 billion ($622.8 million) driven by gains from its holdings in SK Hynix. Consolidated revenue rose 5 per cent to KRW4.97 trillion.

Mobile service revenue grew 3.1 per cent to KRW2.57 trillion as ARPU increased 2.9 per cent to KRW28,600. Total subs edged up 1.3 per cent to 29.4 million.

In an earnings call, CFO Kim Jin-won said the company booked solid growth across all business units, and SKT and its new investment unit SK Square “secured a solid foundation for new growth” following splitting the company into two parts.

The company said total revenue of its ICT businesses increased by 6.9 per cent to KRW1.63 trillion.

Its MNO business increased 2.8 per cent to KRW3.03 trillion, broadband and IPVT revenue rose 6.1 per cent to KRW1.03 trillion, convergent security grew 12.4 per cent to KRW397 billion and commerce was up 1.4 per cent to KRW209.5 billion.

Shares of SK Square will start trading on 29 November, while SKT shares will be relisted on the local stock market the same after a month-long suspension.

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