China Telecom H1 Net Profit Down 8.3%

China Telecom CHA reported an 8.3% drop in its first-half net profit. China Telecom's net profit for the period fell to 8.81 billion yuan ($1.39 billion), from CNY9.62 billion, in the year-ago period. However, analysts were expecting a profit of CNY7.72 billion. Its revenue climbed 14.8% to CNY138.02 billion from CNY120.22 billion. However, analysts were expecting revenue of CNY134.66 billion. China Telecom shares gained 0.45% to close at $51.56 yesterday.