China Mobile Profit Gain Capped by Costs to Add 3G Users
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China Mobile Ltd., the world’s largest phone company by users, posted a 2.5 percent rise in second-quarter profit as costs to add new subscribers to its third-generation network restrained growth.
Net income rose to 35.2 billion yuan ($5.8 billion) from 34.4 billion yuan a year earlier, according to figures derived from first-half results released by the Beijing-based company today. The profit beat the 33.9 billion-yuan average of four analyst estimates compiled by Bloomberg.