China Mobile Profit Misses Estimates on Costs to Add Users
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China Mobile Ltd. profit rose 3.5 percent, missing analyst estimates, as the world’s biggest carrier by subscribers increased spending to attract users.
Net income climbed to 27.8 billion yuan ($4.4 billion) in the first quarter, from 26.9 billion yuan a year earlier, the carrier said in a statement to the Hong Kong Stock Exchange today. The median of four estimates by analysts in a Bloomberg News survey was 28.2 billion yuan.