China Telecom reports third-quarter results

31 Oct 2011

China Telecom Corp has posted revenue of CNY62.2 billion (USD9.8 billion) for the third quarter of 2011, up 12% year-on-year in part due to the net addition of nine million wireless subscribers, of which almost seven million were 3G subscribers. Net income for the period rose 9.7% to CNY4.2 billion, although this was lower than analyst expectations. Despite the growth in 3G subscribers, the company revealed that monthly wireless ARPU over the first nine months of 2011 recorded a ‘moderate decline’. Broadband subscribers grew 20% from last September; however, the number of fixed line voice telephony subscribers fell by more than seven million.

China, China Telecom Corporation