Hutchison Telecom Beats Full-Year Estimates on Higher Data SalesLulu Yilun Chen
Hutchison Telecommunications Hong Kong Holdings, the phone carrier controlled by billionaire Li Ka-shing, posted full-year profit that narrowly beat estimates as mobile-phone customers increased their data usage.
Net income rose 20 percent to HK$1.23 billion ($160 million) in 2012, the Hong Kong-listed company said in a statement today. That compares with the HK$1.19 billion average of eight analyst estimates compiled by Bloomberg. Full-year revenue rose 16 percent to HK$15.5 billion.
Hutchison is targeting data users for its faster third-generation and fourth-generation networks as competition from Hong Kong CSL Ltd. and SmarTone Telecommunications Holdings Ltd. crimps profitability. The company also is expanding its fixed-line business.
“More people could have adopted higher usage of its service plans,” Victor Yip, an analyst at UOB-Kay Hian Holdings Ltd. in Hong Kong, said before the earnings. “It also might have reduced marketing expenses on its fixed-line business.”