LG Uplus, a South Korean telecommunications operator, said on November 4 that third-quarter operating profit rose 84% year on year to 297.6 billion won (US$222 million), despite a slight revenue decline, as last year’s one-off personnel costs dropped out and operating efficiency improved.

Revenue fell 0.7% to 4 trillion won (US$2.97 billion). Service revenue excluding device sales also fell 0.5% to 3.1 trillion won (US$2.31 billion).

The year-earlier comparison was helped by a base effect after LG Uplus booked 150 billion won (US$112 million) in costs for a voluntary retirement program covering 600 employees.

The company said its smart home and enterprise infrastructure businesses grew during the quarter.

Smart home revenue, which includes internet and internet protocol television services, rose 2.9% to 665.5 billion won (US$496 million). Enterprise infrastructure revenue increased 10.4% to 472.2 billion won (US$352 million), helped by growth in its AI data center business.

LG Uplus also said it is building an AI data center campus in Paju and plans to open four buildings in phases by 2028. It plans to invest US$441.7 million in the project.

🔗 Source: Chosun Daily

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