China Mobile Posts Drop In Profit

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China Mobile
CHL
reported a 9.7% drop for the nine months ended September 30. China Mobile's net profit for the period slipped to 82.60 billion yuan ($13.48 billion), versus a year-ago profit of 91.50 billion yuan. Its revenue climbed 3.9% to 481.24 billion yuan compared to 463.01 billion yuan. EBITDA declined 5% to RMB176.3 billion in the period. As of 30 September 2014, its customers reached 799 million. Mobile data traffic for the first three quarters surged 98.6% y/y. China Mobile didn't provide a Q3 profit figure. Based on the company's H1 net profit, China Mobile's profit would be 24.86 billion yuan in the third quarter, versus a year-ago profit of 28.40 billion yuan. China Mobile shares gained 1.88% to close at $60.05 on Friday.
Posted In: EarningsNewsprofit
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