[Edaily Reporter kyoungeun kim ] SKTelecom has recovered from the impact of last year’s cyberattack and posted third-quarter earnings in line with market expectations. Analysts note that the stability of its core business is being bolstered by the growth potential of its artificial intelligence data centers (AI DCs).

Choi Kwan-soon, an analyst at SKSecurities, stated this in a report on the 5th while maintaining a “Buy” rating and a target price of 120,000 won for SKTelecom. The stock closed at 77,400 won the previous day.

SKTelecom’s third-quarter revenue reached 4.497 trillion won, up 13.1% year-over-year, while operating profit surged 1,040.3% to 552.3 billion won. The operating profit margin stood at 12.3%, with operating profit slightly exceeding the consensus estimate (532 billion won). Analyst Choi explained, “Driven by a base effect from last year’s customer appreciation package, wireless revenue rose 21.6%, and standalone operating profit turned to a surplus at 413.5 billion won.” He added, “SK Broadband also posted strong results, with operating profit increasing 51.0% as it continued to grow primarily through ultra-high-speed internet and enterprise services.”

The AI business also continued to show steady growth. AI DC revenue rose 6.2% to 126.1 billion won, while AI B2B and B2C revenue increased 27.3% to 70.0 billion won. SKSecurities forecasts SKTelecom’s revenue for this year at 17.716 trillion won and operating profit at 1.9487 trillion won. This operating profit represents an 81.6% increase from the previous year. Analyst Choi stated, “The financial impact of last year’s cyber attack appears to have been resolved,” adding, “The annual cash dividend is also expected to recover to 2024 levels this year, at 3,540 won per share.”

Attention was also drawn to the AI data center (DC) dual-track strategy. SKTelecom is advancing its AI DC business through SK Horizon and SK Hyper. SK Horizon will secure a capacity of over 318 MW by operating and expanding new data centers in Ulsan and Guro, as well as existing facilities. SK Hyper plans to build regional AI infrastructure in areas such as Ulsan, Chungcheong, and the Southwest region, gradually opening AI data centers totaling 5 GW by 2029, with plans to expand this to 15 GW in the medium to long term.

Research Analyst Choi emphasized, “With this dual-track AI data center strategy, the company can simultaneously secure short-term cash flow through SK Horizon and long-term growth projects through SK Hyper.” He added, “Following a clear turnaround in the wireless segment and steady growth in the fixed-line segment, the robust growth story driven by AI data centers is a key reason why SKTelecom deserves attention.”