Regulated Price Reductions Negatively Affect China Mobile’s 3Q; FVE Reduced to HKD 97
China Mobile’s third-quarter summary results were slightly below our expectations, with service revenue down 3.0%, EBITDA down 3.4%, and net profit basically flat. As we saw with China Unicom’s result, the removal of mobile data roaming tariffs appears to have had a big impact. We retain our narrow moat rating but lower our fair value estimate to HKD 97 (USD 62) from HKD 100 (USD 64) previously, owing to slight downgrades to our forecasts. This fair value estimate implies a forward P/E of 16 tim...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.