China Telecom Net Profit Up 7.2% In First Three Quarters Of 2016

China Telecom’s financial results for the first three quarters of 2016 show operating revenue of CNY263.816 billion, a year-on-year increase of 7.1%. Its net profit attributable to shareholders reached CNY17.543 billion, a year-on-year increase of 7.2%.

During the first three quarters of 2016, China Telecom’s service revenue was CNY233.494 billion, an increase of 5.6% compared with the same period of last year; and its earnings before interest, taxes, depreciation and amortization were CNY76.033 billion, a year-on-year decrease of 0.6%.

China Telecom’s network operations and support costs increased by 19.6% year-on-year; its operating expense increased by 7.9% year-on-year; its financial costs decreased by 18.3% year-on-year; its sales, general and administrative expense increased by 3.5% year-on-year; and its labor costs increased by 5.2% year-on-year.

China Telecom also revealed that during the reporting period, the number of its mobile users reached about 212 million, representing a net increase of 14.59 million. At the same time, the number of its 4G users reached 107 million, representing a net increase of 49.03 million.

In addition, China Telecom’s wired broadband users reached 121 million, a net increase of 7.66 million; while its fixed-line phone users decreased by 5.03 million.

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ChinaWirelessNews.com