8:00AM New York - China Mobile reported that profit attributable to shareholders in the first quarter ended March 31 grew 37.2% from Rmb 17.5 billion last year to Rmb 24.1billion.
Quarterly Earnings Review
China Mobile reported that operational revenue in the quarter ended March 31st increased 19.7% from Rmb 77.70 in the year ago period to Rmb 93 billion in the three months to March this year.
For the quarter, profit attributable to shareholders increased 37.2% to Rmb 24.1 billion from Rmb 17.5 billion in the comparable period a year ago.
Earnings before income and taxes advanced 22.2% from Rmb 40.7 billion in the first quarter 2007 to Rmb 49.7 billion in the first quarter 2008.
Business Review
The company’s performance continued to be leveraged by the burgeoning economic growth and the robust growth of the telecommunications services.
Subscriber growth during the first quarter of the year maintained its positive growth momentum, driven mainly by the company’s focus of continuous expansion into the rural market.
As a result, average monthly net additional subscribers in the period under review rose 33.9% year-on-year from 5.68 million last year to 7.60 million in the first quarter this year.
As at 31 March 2008, China Mobile’s subscriber base reached 392.14 million. |
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