China Telecom posts higher profits, revenues in first three quarters

BEIJING -- China Telecom, one of China's three largest telecom operators, reported growth in both profits and operating revenues in the first three quarters of the year.

The company's net profits totaled 18.71 billion yuan (about $2.81 billion), up 1.7 percent year-on-year, the company said in a statement.

Operating revenues rose 3.5 percent from a year ago to 292.61 billion yuan, of which service revenues totaled 280.87 billion yuan.

By the end of last month, the company's mobile subscribers totaled 349 million, with the number of 5G package subscribers rising to 64.8 million.