China Telecom Posts Second-Straight Profit Gain on IPhone
This article is for subscribers only.
China Telecom Corp., the country’s third-biggest mobile phone operator by users, posted its second-straight gain in quarterly profit as subscribers with Apple Inc.’s iPhone helped boost data usage.
Net income rose 21 percent to 5.52 billion yuan ($902 million) in the second quarter, from 4.55 billion yuan a year earlier, the Beijing-based company said in a statement today. That beat the 5.25 billion-yuan average of five analyst estimates compiled by Bloomberg.