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China Mobile's Profit Beat Estimate Amid 4G, Broadband Gains – Bloomberg

China Mobile's Profit Beat Estimate Amid 4G, Broadband Gains – Bloomberg

China Mobile Ltd.’s profit rose more than analysts estimated during the first half as the world’s largest mobile-phone carrier by subscribers kept attracting users for its 4G and broadband services.

Net income rose 4.7 percent to 65.6 billion yuan ($9.6 billion) in the six months ended in June, the company said in a statement Thursday. That compares with the 63.4 billion yuan average estimate of five analysts surveyed by Bloomberg. Operating revenue gained 2.9 percent to 391.8 billion yuan.

Read more: Bloomberg Opinion piece on China Mobile

Momentum Remains

China Mobile profit beat estimate on high 4G user base and broadband gains

Source: company statements

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The number of 4G users climbed more than 4.5 percent from a year ago, while fixed-broadband services also took market-share from peers, according to Bloomberg Intelligence analyst Anthea Lai.

China Mobile shares rose as much as 2.4 percent after the results to HK$71.80, the highest intra-day level in Hong Kong trading since June 13.

— With assistance by Emma Dai

(Updates with share price in final paragraph.)

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