Narrow-Moat China Mobile Reports Weaker Third Quarter on Roaming and Long-Distance Removal
China Mobile’s third-quarter 2016 was quite weak, with service revenue up 2.3%, EBITDA down 1.8%, and net profit down 1.9%. This compares with its first-half services revenue growth of 6.9%, EBITDA growth of 2.9% and net profit growth of 5.6%. Because of the transfer of assets to Tower Company, EBITDA numbers in the two periods are not comparable so we focus on revenue and net profit growth numbers. The deceleration in the third quarter was likely due to government pressure to remove the roaming...China Mobile and its subsidiaries are engaged in the provision of mobile telecommunications and related services principally using the Global System for Mobile Communications standard and the Time Division Synchronous Code Division Multiple Access standard. In addition, Co. provides its customers with internet access through wireless local area networks. Co. also develops and carries its 4G business based on the TDD mode long-term evolution technology. As of Dec 31 2013, Co. had approx. 767,200,000 customers in all 31 provinces, autonomous regions and directly-administered municipalities in the People's Republic of China as well as in Hong Kong.
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