SK Telecom CoLtdNYSE: SKM

SK Telecom Co., Ltd. (NYSE:SKM ) Q3 2024 Earnings Conference Call November 6, 2024 ET Company Participants Hee Jun Chung - Investor Relations Yang Seob Kim - Chief Financial Officer Conference Call Participants Seung Woong Lee - Yuanta Securities Soojin Kim - Mirae Asset Securities Hoi Jae Kim - Daishin Securities Hee Jun Chung Good afternoon.

There are positive indicators relating to the company's new AI offerings and its core wireless services business. SK Telecom's Q2 2024 operating profit increased significantly by +16% YoY with an improvement in the competitive environment and the success of cost optimization measures pertaining to its mobile telecommunications business. SKM's AI revenue contribution has the potential to grow substantially in the future, considering the favorable metrics for its various AI-related businesses.

SK Telecom (SKM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

SK Telecom (SKM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Investors interested in Wireless Non-US stocks are likely familiar with KT Corp. (KT) and SK Telecom (SKM). But which of these two companies is the best option for those looking for undervalued stocks?

SK Telecom is a top player in the telecommunications space worthy of a Buy rating, taking into account market share data and third-party research. SKM is the leading mobile services provider in South Korea, with an estimated market share in the 40%-50% range. SK Telecom was recently named by Omdia as the No. 1 telecommunications company with regard to AI competitiveness.

SK Telecom's data center business is expected to continue growing strongly in the future due to the company's ambitious capacity expansion plans. Recent statements from SKM suggest that their commitment to enhancing shareholder value through capital return remains unchanged. Following an evaluation of the key points from the company's Annual General Meeting, I still believe that SKM deserves a Buy rating.

Ryu Young-sang, CEO SK Telecom, speaks to CNBC's Arjun Kharpal at Mobile World Congress in Barcelona, Spain.

SK Telecom, South Korea's largest telco, is partnering with U.S. AI startup Perplexity to offer the artificial intelligence-based search engine to its users as an alternative to Google and Naver , the companies told Reuters.