China Mo­bile profit beats es­ti­mates on 4G growth

China Daily (Canada) - - BUSINESS -

Mo­bile op­er­a­tor Chi­naMo­bile Ltd posted profit that beat an­a­lyst es­ti­mates on Thurs­day, as the ex­pan­sion of the fourth-gen­er­a­tion net­work and sales of Ap­ple Inc’s iPhone helped the com­pany add more sub­scribers than com­peti­tors. Net in­come was 32.5 bil­lion yuan ($5.3 bil­lion) in the sec­ond quar­ter, ac­cord­ing to fig­ures de­rived from six-month re­sults the com­pany said. That com­pares with the 29 bil­lion yuan av­er­age of four es­ti­mates com­piled by Bloomberg and rep­re­sents a 7.8 per­cent de­crease from the year be­fore. Chi­naMo­bile is build­ing the world’s big­gest 4G net­work to drive a shift to faster ser­vices for down­load­ing videos and games as its text mes­sag­ing busi­ness loses ground to free ap­pli­ca­tions in­clud­ingWeChat. The com­pany had 13.9 mil­lion 4G cus­tomers at the end of June, more than quadru­ple that of sec­on­dranked China Uni­com (Hong Kong) Ltd, help­ing drive a 52 per­cent surge in data traf­fic rev­enue.

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