China Telecom Profit Beats Estimates as IPhone Lifts Data
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China Telecom Corp., the country’s biggest fixed-line carrier, reported fourth-quarter profit that beat analysts’ estimates as customers using Apple Inc.’s iPhone helped boost sales of wireless data.
Net income fell 17 percent to 2.36 billion yuan ($380 million) from 2.84 billion yuan a year earlier, the Beijing-based company said in a statement today. That surpassed the 2.04 billion yuan average of six analysts’ estimates compiled by Bloomberg.