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China Mobile's Revenue for Q1 Reaches RMB 263.7 Billion

Updated:2024/4/23 16:32

China Mobile released its financial report for the first quarter of 2024 on April 22nd. The operating revenue for this period was RMB 263.7 billion. Among which, the revenue from core business was RMB 219.3 billion, a 4.5% increase compared to the same period last year. The revenue from other businesses was RMB 44.4 billion, an 8.6% increase year-on-year. The net profit attributable to the company's shareholders was RMB 29.6 billion, showing a 5.5% growth rate. The net profit margin attributable to the company's shareholders was 11.2%. EBITDA was RMB 78 billion, a 2.3% decrease year-on-year. The proportion of EBITDA to core business revenue was 35.6%.

In the personal market, China Mobile focused on the integration of "connectivity, applications, and benefits," establishing a sound customer operation system and strengthening scenario operations. It aimed to deepen integrated development and further strengthen the foundation and value of growth. As of March 31st, 2024, China Mobile had a total of 996 million mobile customers, including 799 million 5G plan customers and 488 million 5G network customers. Mobile data traffic increased by 3.3% year-on-year, reaching 14.9GB per user. Mobile ARPU was RMB 47.9.

In the home market, China Mobile aimed to build a "gigabit + cloud life" smart home ecosystem, promoting the scale development of home security, mobile high-definition, and intelligent networking. It upgraded the smart home ecosystem and enhanced HDICT's value contribution. As of March 31st, 2024, China Mobile had a total of 305 million broadband customers, with a net increase of 6.83 million households in the quarter. Among them, there were 269 million home broadband customers, with a net increase of 5.28 million households. The comprehensive ARPU for home customers was RMB 39.9, a 1.8% increase year-on-year.

In the government and enterprise market, China Mobile aimed to promote the scale expansion of "network + cloud + DICT," increase efforts in expanding the business market, standardize, productize, and platformize government and enterprise solutions. It deepened industry digitalization services and promoted high-quality development. In the first quarter, China Mobile's DICT business revenue maintained good growth.

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