China Mobile reports 1Q results

3 May 2011

China Mobile, the world’s largest wireless network operator by subscribers, has announced that in the three months ended 31 March 2011 it generated an operating revenue of RMB118.172 billion (USD18.18 billion), an increase of 8.3% on the same period in 2010. EBITDA for the first quarter was USD58.08 billion (up 5.3%) while net profit climbed 5.4% to RMB26.863 billion. Operationally, China Mobile ended 31 March 2011 with 600.84 million customers, adding 16.82 million new users to its base during the quarter. ARPU slipped from RMB76 in the first quarter of 2010 to RMB67 in 2011, while average minutes of use also dipped from 524 minutes to 517 minutes; the company attributes the fall of both to the continued addition of low-use users.