Stock Track | KT Corp Soars on Robust Q3 Earnings, Defying Sales Decline

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Shares of KT Corp, South Korea's leading telecommunications company, surged 6.02% on November 11th, 2024, following the release of its impressive third-quarter earnings results the previous day.

The telecom giant reported a 35.2% year-over-year increase in net income attributable to shareholders, reaching 357.3 billion won ($264 million) for the quarter ended September. This strong growth in profitability came despite a slight 0.6% decline in sales, which stood at 6.654 trillion won ($4.9 billion).

Investors reacted positively to KT Corp's better-than-expected earnings performance, sending the stock soaring in pre-market trading on November 11th. The company's shares had already risen nearly 6% on Monday, the day the earnings report was released, suggesting that the market had anticipated strong results from the telecom giant.

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