China Mobile Reports Strong Financial Performance for First Nine Months of 2023

China Mobile, one of the country’s leading telecommunications providers, has unveiled its robust financial performance for the first nine months of 2023. The company reported significant growth in revenue and customer base, highlighting the increasing demand for its services.
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Revenue and Profit Surge:

China Mobile’s operating revenue for the nine months of 2023 reached an impressive RMB 775.6 billion, reflecting a substantial increase of 7.2 percent compared to the same period the previous year.

The telecommunications giant’s revenue from telecommunications services also soared, reaching RMB 664.6 billion, marking a growth rate identical to the overall operating revenue, 7.2 percent.

China Mobile’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a notable increase of 6.7 percent, reaching RMB 268.5 billion.

The company’s profit demonstrated a strong performance, with a 7.1 percent increase, reaching RMB 105.5 billion.

Expanding Customer Base:

In the mobile sector, China Mobile reported a significant milestone, with the number of mobile customers on its network reaching a staggering 990 million.

The company highlighted its growing 5G customer base, with 750 million subscribers to 5G packages and 425 million customers using their 5G network.

Data Traffic and ARPU Growth:

China Mobile’s data traffic business maintained steady growth, with handset data traffic witnessing a remarkable year-on-year increase of 16.2 percent.

The average handset data usage per customer (DOU) amounted to 15.6GB, indicating a strong appetite for data services.

Mobile Average Revenue per User per Month (ARPU) also saw an increase of 1.0 percent year-on-year, reaching RMB 51.2.

Broadband Success:

In the wireline broadband segment, China Mobile boasted a substantial customer base of 295 million.

The household broadband customer numbers reached 262 million, showing significant growth of 17.86 million in the first three quarters of 2023.

Household customer blended ARPU demonstrated a notable increase, rising by 2.4 percent to RMB 42.1 during the same period.

China Mobile’s impressive financial performance underscores its continued dominance in China’s telecommunications market, with the company’s extensive customer base and revenue growth highlighting its strong position in the industry. The surge in 5G customers, data usage, and broadband subscribers points towards the company’s adaptability in an increasingly digital world.