China Mobile (CHL) net profit for FY2018 was RMB117.8bn, beating estimates by 2%. But total revenue of RMB671bn missed by 1% on lower ARPU and weaker 4Q mobile data revenue.
FY2018 financials summary
Mobile service revenue fell ~4% in FY18, mostly attributable to 4Q which was down 4.5% yoy. On the flip side, fixed broadband revenue grew to 8% of service revenue or 37% yoy.
Source: Company
Quarterly revenue growth rate may start accelerating
Revenue growth may re-ignite as 4G LTE/VoLTE coverage expands (currently covering 53% of mobile users) while 5G begins its