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China Mobile H1 Profit Rises 4.7%, in Line with Estimates

China Mobile Ltd, the world’s biggest mobile phone operator by subscribers, reported on Thursday a 4.7 percent rise in first-half net profit, helped by mobile data growth on a rise in subscriber numbers.

Net profit for January-June was 65.6 billion yuan ($9.62 billion) versus 62.7 billion yuan a year earlier. The result compared with the 64.1 billion yuan average of five analyst estimates compiled by Thomson Reuters I/B/E/S.

Operating revenue rose 2.9 percent to 391.8 billion yuan, from 388.9 billion yuan a year prior.

The company said in a statement it will maintain stable growth in telecommunications services revenue, net profit and shareholder returns for the full year of 2018.

Shares of China Mobile, which listed in Hong Kong more than two decades ago, climbed 0.9 percent ahead of the results. ($1 = 6.8202 Chinese yuan renminbi) (Reporting by Clare Jim and Anne Marie Roantree) – Reuters

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