China Telecom Completes Solid 1Q Reporting Season for Chinese Telecom Companies
China Telecom’s first-quarter result was strong, with services revenue up 7.1%, earnings before interest, tax depreciation, and amortization up 6.8%, and net profit up 6.5%. This completes a strong first-quarter reporting season for the big three Chinese telecom companies, with industry services revenue growth of 7%-7.5% (using estimated numbers due to adjustments for accounting standard changes) and EBITDA growth of 6.4%, following 6.4% services revenue growth and 5.9% EBITDA growth in 2017. We...
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