Top mobile firm sees growth dip

Source: Xinhua | 2019-03-22

China Mobile, the country’s largest mobile operator, reported slower growth in net profits last year, the company data said yesterday.

Profits attributable to shareholders came in at 117.8 billion yuan (US$17.6 billion) in 2018, up 3.1 percent year on year.

The growth was down from a 5.1 percent annual increase in 2017.

Operating revenue totaled 736.8 billion yuan, up 1.8 percent year on year, of which revenue from telecoms services was 670.9 billion yuan, up 3.7 percent.

The company had 925 million mobile subscribers in 2018, a net increase of 37.87 million from the previous year, while its landline broadband users rose 44 million to 157 million. China Mobile outperformed its domestic rivals China Telecom and China Unicom.