LG Uplus reported consolidated earnings results for the fourth quarter and full year of 2018. 2018 revenue was up 0.7% year-over-year to KRW 12,367.7 billion on Home/Media business growth and improvements in profitability. Operating revenue was up 0.6% year-over-year to KRW 9,458.7 billion. 2018 operating profit was up 3.7% year-over-year to KRW 856.6 billion on double profit from Home/Media and efficient operational spending, including lower marketing spend. Net income was up 4.8% year-over-year to KRW 573.5 billion on higher corporate income tax rate. Under IFRS 15 basis, 2018 revenue was down 1.3% year-over-year to KRW 12,125.1 billion. Operating revenue was down 0.7% year-over-year to KRW 9,344.5 billion. Operating profit was down 11.5% year-over-year to KRW 730.9 billion.

Fourth quarter 2018 operating revenue was up 0.9% year-over-year and 3.2% quarter-on-quarter, reporting KRW 2,425.5 billion. Operating profit was down 34.7% year-over-year and 43.3% quarter-on-quarter to KRW 131.5 billion on one-offs, such as the year-end incentives and higher depreciation. Net income was down 30.8% year-over-year and 40.1% quarter-on-quarter, reporting KRW 93.8 billion. Under IFRS 15, fourth quarter revenue was up 3.4% quarter-on-quarter to KRW 2,405.6 billion and operating profit was down 54.4% quarter-on-quarter, reporting KRW 104.1 billion.

The company targeting above 2% year-over-year operating revenue growth in 2019.