China Telecom reports higher profits, revenue in H1

BEIJING -- China Telecom, one of China's three largest telecom operators, reported growth in both profit and operating revenue in the first half (H1) of 2020.

Net profits of the company totaled 13.9 billion yuan ($2.17 billion), edging up 0.3 percent year on year, the company said in a statement.

Operating revenue in H1 rose 1.7 percent from a year ago to 193.8 billion yuan, of which service revenue increased 2.5 percent year-on-year to 187.1 billion yuan, unaudited financial data showed.

By the end of June, mobile subscribers of the company totaled 343 million, of which the number of 5G package subscribers rose to 37.84 million.

After launching 5G service, China Telecom will only disclose the number of 5G package users and mobile users, said the company, adding that 4G user data will not be disclosed.