China Mobile 2014 Profit Drops

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China Mobile Ltd.

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(NYSE: CHL) reported a 10% drop in its 2014 net profit.China Mobile's net profit for the year slipped to CNY109.3 billion (US$17.5 billion), versus a year-ago profit of CNY121.7 billion. Its total revenue gained 1.8% to CNY641.4 billion, while revenue from telecommunications services declined 1.5% to CNY581.8 billion.At the end of December, the company had 800 million subscribers.For the fourth quarter, China Mobile's net income declined 12% to 26.7 billion yuan ($4.3 billion), while sales slipped 4.2% to 160.2 billion yuan.The company proposed a final dividend of HK$2.92 per share.China Mobile shares gained 2.29% to close at $67.39 yesterday.