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China Mobile H1 profit up 4.7% on rising revenue
CKN
2018/08/09 10:20:13
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Aug 09, 2018 (China Knowledge) - China Mobile<00941> has published its earnings for the first half of 2018, posting a net profit rise of 4.7% from a year earlier, thanks to higher revenue generated from mobile data sales growth from subscribers.

According to its financial report, the net profit from January to June was USD 9.62 billion from last year’s USD 9.19 billion, which beats the average estimate in a poll by Reuters. Operating revenue rose by 2.9%, reaching USD 57.4 billion. On top of these come with new subscribers of 27.3 million, and the number of 4G subscribers to 680 million.

Boosted by release results the telco price closed up 1.71% today with a high of 2.38% during the day, its biggest one-day rise since May. A dividend plan of USD 0.23 per share was declared today.

According to the Chairman Shang Bing, in the second half of this year, China Mobile will proactively perform more trial tests on scalability and specific applications. In addition, more resources will be invested into the development of cross-industry application through the platform of the 5G Joint Innovation Center with collaboration of technology giants such as Huawei, Qualcomm and Samsung.

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