InfoAnda - China Telecom 1Q profit down 27.4 percent

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China Telecom 1Q profit down 27.4 percent AP - 1 hour 19 minutes ago BEIJING - China Telecom Ltd. said Monday its first quarter profit plunged 27.4 percent as demand for traditional fixed-line telephone services weakened. ADVERTISEMENT China Telecom earned 4.7 billion yuan ($686 million) for the three months ended March 31, compared with 6.5 billion yuan a year earlier, the Beijing-based company said. That was despite a 14.9 percent rise in revenues to 50.9 billion yuan. With demand for fixed-line services falling as customers opt for mobiles, China Telecom is trying to drive revenue growth by promoting high-speed Internet access and other new services. It expanded into mobiles last year, taking over a CDMA network from rival China Unicom Ltd. in a government-orchestrated industry restructuring. China Telecom's fixed-line accounts dropped to 204 million in the first quarter, compared with 208.4 million in the previous quarter, the company said. But the number of subscribers to China Telecom's new mobile service rose 5 percent to 32.8 million compared with the previous quarter. The company said rolling out mobile service will "lead to short-term pressure" on overall profitability but will enhance the company's finances in the long-term. ___ On the Net: China Telecom Ltd.: http://www.chinatelecom-h.com Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy AUTOSHOW-BMW, Brilliance Auto to build second China plantReuters - 1 hour 7 minutes ago China sovereign wealth fund may invest in EuropeAFP - 1 hour 19 minutes ago China Telecom 1Q profit down 27.4 percentAP - 1 hour 23 minutes ago AUTOSHOW-China's BYD in talks to supply powertrain systemsReuters - Monday, April 20 Related Articles: Business Creston FY sales, earnings above mkt view; debt fallsReuters - 46 minutes ago Peter Hambro earnings miss consensus, drops dividendReuters - 46 minutes ago China's wind-power boom to outpace nuclear by 2020Reuters - 48 minutes ago Saudi Aramco, Sumitomo to study Rabigh expansionReuters - 50 minutes ago UPDATE 1-Hitachi says outlook tough, mulling state fundsReuters - 36 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Police nab Norwegian pair during high-speed sex 'Beginner's luck' may lay trail to Cleopatra tomb Mummies found in ancient Egypt burial chamber 'Dracula bandit' gets 20-yr jail sentence New-look auto sector could emerge from crisis View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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