Telco rings up surprise US$4.9b profit in Q3
By Rich Zhu |
October 23, 2012, Tuesday
|
Print Edition
Print Edition
CHINA Mobile's net profit in the third quarter surprised analysts as the world's biggest telco gained more users and its data income increased.
The telco's net earnings from July to September grew 1.4 percent annually to 31.1 billion yuan (US$4.9 billion). Revenue in the three months added 6.2 percent from a year ago to 142.1 billion yuan.
The net profit came as a surprise to seven analysts whose average hopes were for 30.8 billion yuan, according to Bloomberg News.
"The favorable development of the data business and, in particular, the wireless data traffic, was effective in stabilizing the average revenue per user," China Mobile's chairman Xi Guohua said in a statement to the Hong Kong Stock Exchange yesterday.
By the end of September, the telco boasted 698.5 million mobile users, helping it to stay as the world's biggest mobile operator. Of them, 75.6 million users were on the 3G network as it added 24.4 million 3G users so far this year.
In the first nine months, its net profit rose 1.4 percent yearly to 93.3 billion yuan.
In the domestic market, China Mobile faces stiff competition from smaller rival China Unicom, which uses a more mature 3G network and partners Apple Inc for the iPhone, analysts said.
China Mobile is eying opportunities arising from a 4G TD-LTE (time division-long term evolution) network, Morgan Stanley said.
The telco's net earnings from July to September grew 1.4 percent annually to 31.1 billion yuan (US$4.9 billion). Revenue in the three months added 6.2 percent from a year ago to 142.1 billion yuan.
The net profit came as a surprise to seven analysts whose average hopes were for 30.8 billion yuan, according to Bloomberg News.
"The favorable development of the data business and, in particular, the wireless data traffic, was effective in stabilizing the average revenue per user," China Mobile's chairman Xi Guohua said in a statement to the Hong Kong Stock Exchange yesterday.
By the end of September, the telco boasted 698.5 million mobile users, helping it to stay as the world's biggest mobile operator. Of them, 75.6 million users were on the 3G network as it added 24.4 million 3G users so far this year.
In the first nine months, its net profit rose 1.4 percent yearly to 93.3 billion yuan.
In the domestic market, China Mobile faces stiff competition from smaller rival China Unicom, which uses a more mature 3G network and partners Apple Inc for the iPhone, analysts said.
China Mobile is eying opportunities arising from a 4G TD-LTE (time division-long term evolution) network, Morgan Stanley said.
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