China Telecom first quarter profit up 5% y-o-y

29 Apr 2019

China Telecom has reported a 0.5% drop in operating revenue for the first three months of 2019 to CNY96.1 billion (USD14.3 billion), due primarily to a nearly-50% drop in revenue from handset and equipment sales; the company noted that service revenue grew by 4.1% year-on-year to CNY91.5 billion. EBITDA grew by 14.1% y-o-y to CNY30.2 billion, whilst net profit was up 4.7% to CNY6.0 billion. The operator counted a total of 315.05 million mobile subscribers at the end of March – up from 303.00 million three months earlier – of which 256.10 million were 4G users (242.43 million in December 2018). Its fixed broadband customer base grew from 145.79 million to 147.87 million quarter-on-quarter, whilst fixed voice lines dipped from 116.48 million to 115.17 million over the same period.

China, China Telecom Corporation