SK Telecom Co. on Tuesday reported its second-quarter net income of 350.2 billion won (US$255.4 million), up 0.7 percent from a year earlier.

The company said in a regulatory filing that operating profit for the April-June period rose 16 percent on-year to 537.5 billion won. Revenue increased 2.7 percent to 4.42 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 346.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency