China Telecom Q1 earnings boosted by data

Melissa Chua
29 Apr 2011
00:00
News
Daily News

China Telecom reported an 8% increase in profit for the quarter ended 31 March, driven by a boost in internet and data services.

Profit grew to 4.6 billion yuan, while operating revenue increased 11.3% year-on-year to hit 58.67 billion yuan. Ebitda before capacity lease fees was 23.76 billion yuan ($3.65 billion), up 4.2% from Q1 last year.

China’s largest fixed line operator and smallest wireless operator said growth in its internet and data services segment outstripped falling numbers for fixed line voice services.

China Telecom had 16.37 million 3G subscribers in Q1, up from 12.29 million during the same period last year. Total mobile customers hit 100.25 million at the end of the quarter, compared to 90.52 million last year.

Fixed line broadband subscribers numbered 66.85 million in Q1, 3.37 million more than last year. But the carrier lost 1.69 million fixed lines.

The company saw an 11.3% increase in operating expenses year-on-year due in part to higher mobile device subsidies.

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