China Telecom Q3 Profit Surges 20%

China Telecom

reported a 20% rise in its third-quarter net profit. China Telecom's quarterly net profit surged to CNY4.50 billion ($739.8 million), from CNY3.75 billion, in the year-ago period. Its revenue climbed 12% to CNY80.67 billion versus CNY71.96 billion. China Telecom shares closed at $52.27 on Friday.