Solid show by China Mobile

China Mobile (0941) saw a 6.5 percent rise in net profit to 25.6 billion yuan (HK$31.1 billion) in the first quarter of the year compared to the period in 2021.

The largest Chinese network operator saw operating revenue grow by 14.6 percent to 227.3 billion yuan, specifically with revenue from telecommunications services increasing 9.1 percent to 193.8 billion yuan on last year.

Mobile customers numbered 967 million. Of them, 5G package customers numbered 467 million and wireline broadband customers 249 million.

This came as China Unicom (0762) recorded a 20 percent jump in first-quarter net profit to 4.63 billion yuan.

And operating revenue reached 89 billion yuan in the first three months of this year, up 8.2 percent year on year.

The number of 5G package subscribers reached 171 million, driving the firm's mobile service revenue to rise by 2.2 percent to 41.9 billion yuan from last year.

Meanwhile, shares of China Telecom (0728) fell 2.6 percent yesterday, though some investment houses have raised their target price after its first-quarter result announcement on Wednesday.

The telecom giant posted a 12 percent growth in net profit to 7.22 billion yuan in the first three months.