Reuters logo
UPDATE 1-China Telecom says first-quarter profit rises 4.5 pct on 4G growth
April 27, 2017 / 4:43 AM / 7 months ago

UPDATE 1-China Telecom says first-quarter profit rises 4.5 pct on 4G growth

* Jan-March profit at 5.3 bln yuan vs 5.12 bln yuan year prior

* Operating revenue rises 5.8 pct

* Mobile subscribers reach 222 mln including 138 mln on 4G (Adds subscriber figures, context)

HONG KONG, April 27 (Reuters) - Chinese state-owned telecommunications network operator China Telecom Corp Ltd on Thursday said net profit rose 4.5 percent in the first quarter due to growth in users of its fourth-generation network (4G) and mobile service revenue.

Profit reached 5.3 billion yuan ($768.54 million) in January-March, compared with 5.12 billion yuan a year earlier. Operating revenue rose 5.8 percent to 91.4 billion yuan.

The firm is China’s largest fixed-line service provider and the smallest among the three state-owned telcos in the mobile business.

China Telecom said its mobile subscribers grew to 222 million in the quarter, including 138 million customers for its 4G mobile network.

China’s state-owned telcos are bracing for revenue pressure this year after the government asked them to lower tariffs. ($1 = 6.8962 Chinese yuan renminbi) (Reporting by Sijia Jiang; Editing by Christian Schmollinger and Christopher Cushing)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below