China Mobile profit up 2.3% in Q1

BEIJING - China Mobile, one of the country's leading telecommunication operators, reported a profit growth of 2.3 percent year-on-year in the first quarter (Q1) of 2021.

Profits attributable to equity shareholders stood at 24.1 billion yuan ($3.7 billion) in the first three months, the company said in a statement.

The operator raked in 198.4 billion yuan in operating revenue in the first quarter, up 9.5 percent year-on-year, of which revenue from telecom services was 177.7 billion yuan, a rise of 5.2 percent from the same period last year, according to the statement.

As of the end of March, mobile subscribers of the company came in at 940 million, with 5G network subscribers reaching 92.76 million.