China Telecom H1 Net Profit Surges 15.9%
China Telecom (NYSE: CHA) reported a 15.9% rise in its first-half net profit.
China Telecom's net profit for the period surged to 10.21 billion yuan ($1.66 billion), from CNY8.81 billion, in the year-ago period. However, analysts were expecting a profit of CNY10.12 billion.
Its revenue climbed 14.1% to CNY157.52 billion from CNY138.02 billion, versus estimates of CNY157.29 billion.
China Telecom shares closed at $51.75 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.