Leading mobile operator reports 3.1% increase in net profit for 2018

China Mobile, the country's largest mobile operator by number of subscribers, said on Thursday that it posted a 3.1 percent rise in 2018 net profit, beating market expectations on a one-time windfall from the listing of mobile-tower builder China Tower Corp in August.

The company is the latest of China's wireless carriers to have revealed better-than-expected performances last year, which may reduce some financial pressure as they are ready to build the network for 5G, or the fifth-generation mobile communication technology, experts said.

China Mobile said its net profit for 2018 hit 117.8 billion yuan ($17.63 billion), beating the market estimates of 115.4 billion yuan.