China Mobile Profit Beats Estimates on 4G Subscriber Gains
- World’s largest phone carrier added 116 million 4G accounts
- 4G still has room to grow as millions haven’t upgraded yet
This article is for subscribers only.
China Mobile Ltd.’s first-half profit rose 5.6 percent, beating analyst estimates, after the world’s largest phone carrier by users added more 4G subscribers than the populations of the U.K. and Spain combined.
Net income increased to 60.6 billion yuan ($9.1 billion), compared with 57.3 billion yuan a year earlier, the company said in a statement on Thursday. The results exceeded the 58.8 billion yuan median of five analysts’ estimates in a Bloomberg News survey.