Earnings: SK Telecom’s Q2 Profit Rises More Than Expected

SK Telecom, South Korea’s largest mobile phone operator, reported its first profit increase in five quarters, beating expectations as its marketing costs fell. Q2 net income rose 56 percent to 467 billion won ($459 million) from 299 billion won a year ago. Operating profit climbed 54 percent and sales gained 6 percent.
The comany has been looking to expand its mobile content activities…as part of that it is buying content providers to broaden its range of mobile-phone services. In May, the company said it would purchase a 60 percent stake in YBMSeoul Records, a local music distributor.
ATV: The company has forecastedthat its satellite DMB (digital multimedia broadcasting) business will reach break-even in 2008 or in 2009.