China Telecom Earnings Beat Expectations
Network operator China Telecom Corp. on Wednesday reported a better-than-expected first-half net profit as user numbers grew in the face of intensifying competition.
The company has been trying to fuel growth in the mobile services business it bought from rival China Unicom (Hong Kong) Ltd. in 2008 as part of a government-mandated industry restructuring. In the six months ended June 30, China Telecom outpaced China Unicom and China Mobile Ltd. in the growth of users of third-generation mobile services.
