China Mobile 2015 Profit Misses Estimates, Shares Decline
- Government request to lower mobile phone rates erodes profit
- Carrier books 10.1 billion yuan gain on sale of tower assets
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China Mobile Ltd.’s annual profit fell, missing analyst estimates, as cheaper plans damped revenue growth at the world’s largest phone carrier. The shares fell after the announcement.
Net income dropped 0.6 percent to 108.5 billion yuan ($16.7 billion) in 2015, the company said Thursday. That compares with the 112.8 billion yuan average of analyst estimates. Sales rose 2.6 percent to 668.3 billion yuan. Dividend for the year is HK$2.721 per share, down from HK$2.92 a year earlier, represents payout ratio of 43 percent as planned.