March 19, 2019 / 4:39 AM / 7 months ago

China Telecom FY profit jumps 14 pct on data demand

HONG KONG, March 19 (Reuters) - China Telecom Corp Ltd on Tuesday reported a 13.9 rise in 2018 net profit, beating estimates, helped by growing data traffic and cloud service demand in the country.

Full-year net profit came in at 21.21 billion yuan ($3.16 billion), compared with 18.617 billion yuan in the previous year.

Meanwhile, 16 analysts polled by Refinitiv had an average forecast of 20.5 billion yuan.

Net profit for the December-quarter stood at 2.18 billion yuan.

Total revenue for the full year rose 3 percent to 377 billion yuan, against the average estimate of 380.6 billion yuan by 21 analysts on Refinitiv.

The state-controlled telecom operator announced a final dividend of HK$0.125 per share, up from HK$0.115 a year ago.

$1 = 6.7156 Chinese yuan Reporting by Sijia Jiang, Editing by Sherry Jacob-Phillips

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