China Mobile’s Profit Beat Estimate Amid 4G, Broadband Gains
(Bloomberg) -- China Mobile Ltd.’s profit rose more than analysts estimated during the first half as the world’s largest mobile-phone carrier by subscribers kept attracting users for its 4G and broadband services.
Net income rose 4.7 percent to 65.6 billion yuan ($9.6 billion) in the six months ended in June, the company said in a statement Thursday. That compares with the 63.4 billion yuan average estimate of five analysts surveyed by Bloomberg. Operating revenue gained 2.9 percent to 391.8 billion yuan.
The number of 4G users climbed more than 4.5 percent from a year ago, while fixed-broadband services also took market-share from peers, according to Bloomberg Intelligence analyst Anthea Lai.
China Mobile shares rose as much as 2.4 percent after the results to HK$71.80, the highest intra-day level in Hong Kong trading since June 13.
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