China Telecom: 9-Month Net Profit CNY18.50 Billion; Up 5.5% on Year

By Chester YungFeaturesDow Jones Newswires

China Telecom Corp. Ltd. (CHA) Friday reported a 5.5% rise for its January-September net profit, partly due to higher revenues from more subscribers amid an expansion of its network.

The Chinese state-owned telecommunication firm said its net profit for the nine months ended September rose to 18.50 billion yuan (US$2.78 billion) from CNY17.54 billion a year earlier. Its January-September operating revenues rose 4.1% to CNY274.70 billion, of which services revenues rose 7% to CNY249.72 billion.

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The number of mobile subscribers reached 240.56 million as the end-September, representing a net addition of 25.56 million, the firm said.

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(END) Dow Jones Newswires

October 27, 2017 00:52 ET (04:52 GMT)