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China Mobile reports 14% drop in profit first nine months of 2019
- Wednesday | 23rd October, 2019
TeleGeography: China Mobile has reported almost stable operating revenues for the first nine months of 2019 at CNY566.7 billion (USD80.1 billion), though there was a 1% year-on-year fall in revenues from telecoms services to CNY513.0 billion. EBITDA climbed 5.3% to CNY225.5 billion, but net profit attributable to shareholders dropped 13.9% to CNY81.8 billion. The fall was attributed to ‘the year-on-year decrease in revenue, spending on business transformation and rising rigid expenditures’. In operational terms, the group claimed 942 million mobile customers at the end of September 2019, up from 935 million three months earlier. In the fixed broadband segment, China Mobile claimed 185 million customers at the end of September, a net increase of ten million in three months.
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