China Mobile profits rise 5.6% in H1
Updated: 2016-08-11 17:02
(Xinhua)
|
|||||||||
BEIJING - China Mobile, the country's top telecom operator, said Thursday that its profits rose 5.6 percent year on year in the first half (H1) of 2016 due to strong growth in wireless data traffic revenue and 4G mobile business.
Profits attributable to shareholders reached 60.6 billion yuan ($9.1 billion) in H1, according to financial results released by the company, which is also the world's largest mobile telecom operator by subscribers.
Operating revenue climbed 7.1 percent year on year to 370.4 billion yuan, with revenue from telecom services up by 6.9 percent.
China Mobile chairman Shang Bing called the results "encouraging" in a statement, saying the company had beaten the average industry growth.
He attributed the performance to increases in 4G business and data traffic, driven by strong demand for wireless Internet access.
In H1, China Mobile saw a monthly net increase of over 19 million 4G customers on average, bringing the total number of 4G customers to 429 million.
During the period, revenue from wireless data traffic surpassed traditional business as the biggest revenue source for the company, jumping 39.7 percent year on year.
Despite the growth, Shang said the company faces fierce competition from 4G businesses and Internet firms' expanding into telecoms.
In the second half, China Mobile will further build on its 4G advantages, increase revenue from digital services and expand its market share in information and communications technology, Shang said.
Related Stories
China Mobile plans to enter insurance market with 2b yuan investment 2016-05-23 13:50
4G spending hits China Mobile 2016-03-18 08:00
China Mobile aims to target 500m customers by end of next year 2015-12-16 07:47
China's mobile users hit 1.3 billion in 2015 2016-01-26 15:07
Testing times for big telecom firms as profit growth slows 2015-11-25 07:50
Today's Top News
Ukraine denies attempted troop invasion of Crimea
Solidarity called to firefighters facing wildfires
Eurostar train staff to strike for seven days: UK union
Trump's gun rights comments ignite firestorm
China consumer prices up 1.8% in July
Video introduces G20 city Hangzhou to Europe
Leaders of Iran, Azerbaijan seek to boost trade
Storm in Macedonia kills at least 17
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Hollywood snaps up rock star's dog film |
Chinese people welcome dispossessed |
The can-do generation to the fore |
Riding the wave |
Leisure giants buoy cruise market |
She followed her heart |