China Mobile Reports In-Line 1Q Result With Some Recovery in Market Share
China Mobile’s first-quarter summary result was in line with our expectations, with service revenue down 0.5%, earnings before interest, tax, depreciation, and amortization up 4.3%, and net profit down 8.1%. China Mobile implemented a new accounting standard relating to leases, which decreases operating expenses and increases depreciation and amortization, so the EBITDA increase was partly driven by this accounting change. We therefore see the net profit decline as more indicative of the underly...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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