China Mobile net profit grows 1.4% amid big increase in subscriber base
October 24, 2012, 12:31 pm TWN
HONG KONG -- 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 (US$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 Hong Kong stock exchange.
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 favorable development momentum despite the intensified competition and various challenges," China Mobile 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."