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China Mobile profit falls 8.5 pct, in line with estimates
August 14, 2014 / 4:36 AM / 3 years ago

China Mobile profit falls 8.5 pct, in line with estimates

BEIJING, Aug 14 (Reuters) - China Mobile Ltd, China’s largest telecom provider, saw first-half net income fall 8.5 percent, in line with forecasts, amid rising competition from rival carriers and Internet-based service providers.

The company said net income attributable to shareholders was 57.7 billion yuan ($9.38 billion) in the six months ending June, largely in line with analyst estimates of 55.7 billion yuan, according to a Thomson Reuters SmartEstimate poll of analysts.

Operating revenues for the first half rose 7.1 percent to 324.7 billion yuan.

The carrier, which has been leading China’s next-generation 4G telecom network roll-out, said the number of 4G customers soared to over 20 million at the end of July from 14 million at the end of June. ($1 = 6.1540 Chinese yuan) (Reporting by Gerry Shih; Editing by Miral Fahmy)

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