China Telecom Posts 20% Third-Quarter Profit Gain on IPhone
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China Telecom Corp., the country’s third-biggest mobile phone company by users, posted a greater-than-expected gain in quarterly profit as users of Apple Inc.’s iPhone helped boost data sales.
Net income rose 20 percent to 4.5 billion yuan ($740 million) in the three months ended Sept. 30 from 3.75 billion yuan a year earlier, the Beijing-based company said in a statement on its Website today. That beat the 4.41 billion-yuan average of three analyst estimates compiled by Bloomberg.