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SEOUL, May 7 (Yonhap) -- LG Uplus Corp., a major mobile carrier in South Korea, said Thursday its net profit rose 8.3 percent in the first quarter from a year earlier, led by growth in its core mobile business.
Net profit came to 176 billion won (US$121.4 million) in the first three months of this year, compared with 162.5 billion won a year earlier, the company said in a regulatory filing.
Operating profit for the January-March period increased 6.6 percent on-year to 272.3 billion won, while sales climbed 1.5 percent to 3.8 trillion won over the period.
Hong Beom-sik, CEO of LG Uplus Corp., speaks during a press conference in Barcelona, Spain, in this file photo from March 5, 2026. (Pool photo) (Yonhap)
LG Uplus said strong sales in its mobile, smart home and corporate infrastructure businesses, along with cost-cutting efforts, helped improve profitability.
Its core mobile business posted 1.6 trillion won in sales in the first quarter, up 3.2 percent from a year earlier, thanks to a hike in mobile subscriptions.
Sales in its smart home solutions business, including internet protocol television (IPTV) and internet services, increased 4.1 percent from a year ago, driven by growth in premium service subscriptions.
Its artificial intelligence (AI) business recorded 435.6 billion won in sales, up 6.3 percent on-year, supported by growth in AI data center operations.
LG Uplus said it plans to cancel 80 billion won worth of treasury shares next week as part of a buyback program aimed at enhancing shareholder value.
ejkim@yna.co.kr
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