China Telecom : Nine-Month Net Profit Rose 1.7%

By Martin Mou

China Telecom Corp. said Thursday that its net profit in the first nine months of the year edged up, helped by stronger service revenues.

Net profit rose 1.7% from a year earlier to 18.71 billion yuan ($2.81 billion ), as total operating revenues grew 3.5% to CNY292.61 billion, the company said.

Service revenues expanded 3.5% to CNY280.87 billion as the company had a net addition of 13.78 million mobile subscribers while service revenue per user per month declined at a slower pace, China Telecom said.

The company's 5G package subscribers reached 64.80 million as of end-September, representing a net addition of 60.19 million subscribers, it said.

Write to Martin Mou at [e-mail]

(END) Dow Jones Newswires

10-22-20 0040ET