China Mobile net profit rises 1.4%

Oct 22, 2012

China Mobile, the world's biggest mobile operator by subscribers, Monday reported a 1.4 percent rise in net profit for the first nine months of the year, amid robust growth in its subscriber base.

Net profit rose to 93.31 billion yuan ($14.8 billion) in the January-September period, up from 91.98 billion yuan in the same period last year, the company said in a filing to the .

Operating revenue was up by 6.4 percent to 408.6 billion yuan compared to 383.8 billion yuan a year earlier.

"The group has maintained favourable development momentum despite the intensified competition and various challenges," said in the statement, acknowledging a "remarkable" growth in its customer base.

"The average monthly net additional customers for the first three quarters exceeded 5.4 million and the group continued to lead the industry."

The firm added 15.43 million customers in this period, reaching a total of 698.51 million subscribers by the end of September.

The phone operator also said it saw rapid growth in wireless , which increased by 188.1 percent compared with the same period last year.

"The group actively promoted the healthy development of the data business, particularly the mobile Internet business," it said.

The company's shares closed up 1.06 percent after the announcement, while the benchmark Hang Seng index rose 0.68 percent.

Explore further: Media reaping profits from Internet (Update)

add to favorites email to friend print save as pdf

Related Stories

China Mobile interim profit disappoints investors

Aug 16, 2012

Telecom giant China Mobile posted a worse-than-forecast rise in first-half net profit of 1.5 percent on Thursday, citing intensive competition and the spread of new mobile technologies.

China Telecom profit down 8.3 percent

Aug 22, 2012

(AP) — China Telecom Ltd., one of the country's three major state-owned phone carriers, said Wednesday its first-half profit fell 8.3 percent amid intense competition and high technology costs.

China Mobile 1H profit rises to $9.6 billion

Aug 18, 2011

(AP) -- China Mobile Ltd., the world's biggest phone company by subscribers, said Thursday its first-half profit rose 6.3 percent as sales were boosted by greater usage of mobile Internet devices.

Baidu's 3Q profit more than doubles, shares rise

Oct 22, 2010

(AP) -- Baidu Inc., which operates China's leading search engine, said Friday its third-quarter net profit more than doubled and revenue jumped 76 percent as online advertising surged.

Recommended for you

Sony forecasts $2B loss as smartphones lag (Update)

14 hours ago

Sony expects its annual loss to swell to $2 billion and has canceled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business.

Alibaba post-IPO structure gives insiders control

15 hours ago

Control over Alibaba Group will stay in the hands of founder Jack Ma and other company veterans after the Chinese e-commerce giant goes public on the New York Stock Exchange in a record busting share sale.

User comments : 0