Despite the slowing revenue growth, China Mobile's profitability remained strong in the third quarter, with profits and earnings per share steadily increasing.
On the 21st, China Mobile announced today that in 2024 Q3, operating income decreased by 0.1% year-on-year, while net profit attributable to the parent company's shareholders increased by 4.6% year-on-year. Specifically:
1) Key Financial Data
<blockquote>
<ul>
<li>Revenue: Operating income for the third quarter of 2024 was RMB 244.7 billion, a decrease of 0.1% year-on-year; operating income for the first three quarters was RMB 791.5 billion, an increase of 2.0% year-on-year;</li>
<li>Net profit attributable to the parent company's shareholders: In the third quarter of 2024, the net profit attributable to the parent company's shareholders was RMB 30.7 billion, an increase of 4.6% year-on-year; the net profit attributable to the parent company's shareholders for the first three quarters was RMB 110.9 billion, an increase of 5.1% year-on-year.</li>
<li>Basic earnings per share: Earnings per share for the third quarter was RMB 1.43, an increase of 4.4% year-on-year, with cumulative earnings per share of RMB 5.18 for the first three quarters, an increase of 4.9% year-on-year.</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/71fc3759-39cd-4498-8547-942ce8dfdfa5.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/71fc3759-39cd-4498-8547-942ce8dfdfa5.png"/>
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2) Key Business Performance
<blockquote>
<ul>
<li>As of September 2024, China Mobile's mobile business had a total of 1.004 billion customers, with a net increase of 2.432 million in September and a cumulative net increase of 12.977 million this year; China Mobile had 539 million 5G network customers in September 2024.</li>
<li>As of September 2024, China Mobile's fixed broadband business had a total of 314 million customers, with a net increase of 2.994 million in September and a cumulative net increase of 15.358 million this year.</li>
<li>In the first three months of this year, China Mobile's mobile internet traffic increased by 2.1% year-on-year, with mobile internet DOU (average monthly internet traffic per user) reaching 15.7GB;</li>
<li>Mobile ARPU (average monthly revenue per user) was RMB 49.5.</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d649cd8d-5ab4-47ab-9061-351820840bda.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d649cd8d-5ab4-47ab-9061-351820840bda.png"/>
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The company stated that in the home market, China Mobile is building a &#34;full gigabit + cloud life&#34; smart home ecosystem, with the &#34;Mobile Love Home&#34; brand as the leader, actively creating new growth points such as FTTR and HDICT.
In emerging markets, China Mobile is deepening its operation of &#34;content + technology + integrated innovation,&#34; building competitive advantages in content media business, leveraging the linkage effect between domestic and international markets, and vigorously expanding international business. In the first three quarters, both content media revenue and international business revenue maintained rapid growth

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China Mobile's operating revenue in the third quarter of 2024 was RMB 244.7 billion, a year-on-year decrease of 0.1%; net profit attributable to equity holders was RMB 30.7 billion, a year-on-year increase of 4.6%. In September, the company added a net of 2.432 million mobile business customers, with 539 million 5G network customers

- China Mobile reported a slight revenue decline of 0.1% in Q3 2024, with total revenue at 244.7 billion yuan, while net profit rose by 4.6% to 30.7 billion yuan.  
- The company achieved a total mobile customer base of 1.004 billion, with a net increase of 2.432 million in September, and 5G customers reached 539 million.  
- China Mobile is focusing on expanding its smart home ecosystem and enhancing its content media and international business operations, which have shown rapid growth in the first three quarters.  

CHINA MOBILE's Q3 revenue decreased by 0.1% year-on-year, while net profit increased by 4.6% | Financial Report Insights