China Telecom profit climbs on 5G gains - Mobile World Live

China Telecom profit climbs on 5G gains

25 OCT 2021

China Telecom recorded brisk profit growth in the first nine months of 2021 as it continued to add 5G users at a brisk rate and mobile ARPU improved year-on-year.

The operator added 90.7 million 5G package subscribers for a total of 155.5 million and penetration of 42.1 per cent.

Mobile service revenue increased 6.3 per cent to CNY140.5 billion ($22 billion), with ARPU rising 2.3 per cent to CNY45.40.

In a statement, chairman and CEO Ke Ruiwen explained China Telecom maintained investment to improve network quality and capabilities through shared infrastructure with China Unicom.

He explained the operator worked to back rapid development of 5G for government and enterprise services.

Net profit grew 24.7 per cent to CNY23.3 billion, with finance costs dropping 44.8 per cent to CNY1.3 billion.

Operating revenue increased 12.5 per cent to CNY329.2 billion.

The operator broke out key Q3 figures for the first time, with net profit up 17.4 per cent to CNY5.6 billion on revenue of CNY110 billion, up 11.3 per cent.

Total handset data traffic increased by 39.3 per cent and mobile subscribers 20.3 million to 369.7 million.

Revenue from fixed-line broadband rose 6.8 per cent CNY56.9 billion and industrial digitalisation services unit 16.8 per cent to CNY74.1 billion.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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