Seoul: KT Corp. on Thursday reported its fourth-quarter net loss of 736.6 billion won (US$508.4 million), remaining in the red compared with a year ago. The company disclosed in a regulatory filing that it experienced an operating loss of 655.1 billion won for the October-December period, in stark contrast to a profit of 265.6 billion won recorded during the same period last year. Additionally, the company’s revenue saw a decline, falling 1.7 percent to 6.57 trillion won.
According to Yonhap News Agency, the financial data firm of Yonhap News Agency, the reported loss was 22.6 percent higher than the average estimate. This highlights the challenges faced by KT Corp. as it navigates through financial difficulties, marking a significant deviation from previous projections. The figures underscore the ongoing struggles for the telecommunications giant as it continues to address the factors contributing to its financial downturn.