China Mobile hails 'hard-earned' 76b yuan

China Mobile's (0941) net profit for the first six months of this year climbed up 8.4 percent yearly to 76.2 billion yuan (HK$82.62 billion), partly boosted by the 20 percent revenue growth from digital transformation services.

The operator increased the interim dividend by 10.5 percent to HK$2.43 per share.

The interim net profit was the highest among its peers, China Telecom (0728) and China Unicom (0762).

First-half operating revenue rose by 6.8 percent yearly to 530.7 billion yuan, to which the telecom services contributed 452.2 billion yuan, up by 6.1 percent over the same period.

Besides, revenue from digital transformation jumped 19.6 percent to 132.6 billion yuan, accounting for 29.3 percent of total telecom services income.

As of June, the total number of mobile customers reached 985 million, versus 970 million a year ago. The mobile average revenue per unit inched up by 0.2 percent yearly to 52.4 yuan.

The number of 5G package subscribers rose by 41 percent to 722 million within one year.

Wireline broadband customers numbered 286 million, with 255 million household broadband users. The household customer blended ARPU climbed up by 0.7 percent year-on-year to 43.3 yuan, much slower than a 4.6 percent increase one year ago.

China Mobile said the interim results were "truly hard-earned," amid insufficient demand and complex external factors.

The telecom giant admitted it also faces certain uncertainties in its transformation and future development, as the lack of demand, operating difficulties and intense competition are posing challenges for certain enterprises.

Shares of China Mobile edged up by 0.54 percent to HK$64.85 apiece yesterday.