Market Overview

China Telecom Q1 Profit Falls

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China Telecom Corporation Limited (ADR) (NYSE: CHA) reported a 9 percent drop in its net profit for the first quarter.

China Telecom's quarterly net profit slipped to 5.05 billion yuan (US$813.2 million).

Its operating revenue declined 2.1 percent to CNY81.45 billion.

The number of subscribers surged 3.2 million to 189 million in the latest quarter.

China Telecom shares rose 0.52 percent to close at $77.93 yesterday.

Posted-In: profitEarnings News

 

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