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China Mobile Q3 net profit falls 9 percent to 28 billion yuan
October 21, 2013 / 8:50 AM / 4 years ago

China Mobile Q3 net profit falls 9 percent to 28 billion yuan

BEIJING, Oct 21 (Reuters) - China Mobile Ltd, the world’s largest mobile carrier by subscribers, saw third-quarter net profit fall nearly 9 percent to 28.37 billion yuan ($4.65 billion) from 31.1 billion yuan in the same period last year, coming in below analyst estimates of 30.72 billion yuan.

Net profit for the first nine months of the year was 91.5 billion yuan, down by 1.9 percent versus January-to-September last year.

The firm’s January-to-September average revenue per user (ARPU), a standard industry measure of performance, fell to 66 yuan from 67 yuan a year earlier.

China Mobile shares have fallen 5.76 percent year-to-date against a 3.45 percent overall gain on the Hang Seng Index . China Unicom’s have risen 2.74 percent and China Telecom’s are down 3.94 percent for the same period.

China Mobile shares closed up 0.53 percent on Monday, edging out the Hang Seng Index’s gain of 0.42 percent.

($1 = 6.0968 Chinese yuan)

Reporting by Paul Carsten; Additional reporting by Bangalore Newsroom; Editing by Matt Driskill

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