China Mobile's net profit in the first three quarters was 98.5 billion yuan

China Mobile released its latest performance announcement today. Net profit in the first three quarters reached 98.5 billion yuan, an increase of 13% year-on-year; operating income was 723.5 billion yuan, an increase of 11.5% year-on-year; among which, communication services Revenue was RMB 620.1 billion, up 8.3% year-on-year; product sales and other income was RMB 103.4 billion, up 36.4% year-on-year

In addition, China Mobile's EBITDA for the first three quarters was RMB 251.5 billion, a year-on-year increase of 5.9%. As of the end of the third quarter (September 30), the number of mobile customers was 974 million, a net increase of 17.15 million, of which 557 million were 5G package customers. In the first three quarters of this year, mobile ARPU was RMB 50.7, a year-on-year increase of 1.0%.

As of September 30, 2022, the total number of China Mobile's wired broadband customers reached 265 million, with a net increase of 24.82 million in the first three quarters, of which home broadband customers reached 238 million, with a net increase of 19.66 million in the first three quarters. The wired broadband ARPU was It was RMB 34.8, up 0.2% year-on-year, and the comprehensive ARPU of household customers was RMB 41.1, up 3.2% year-on-year.

China Mobile's 5G-related investment in the first half of 2022 reached 58.7 billion yuan. As of now, China Mobile has opened more than 1.1 million 5G base stations across the country, accounting for more than 50% of the country's 5G base stations.

According to the Ministry of Industry and Information Technology, as of the end of August, the total number of 5G base stations reached 2.102 million, accounting for 19.8% of the total number of mobile base stations, an increase of 5.5 percentage points from the end of the previous year. Among them, 677,000 new 5G base stations were built from January to August this year.

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