Summary by Moomoo AI
China Telecom released its first quarter financial report for 2024 on 23 April 2024, showing that the company's operating income reached RMB1,354.93 billion, an increase of 3.8% year-on-year, with service revenue of RMB1,243.47 billion, an increase of 5.0% year-on-year. The company's shareholders accounted for a profit of RMB85.97 billion, up 7.7% from the same period last year, and basic earnings per share were $0.09. EBITDA was RMB351.00 billion, an increase of 3.6% year-on-year. During the reporting period, net mobile users increased by 388 million to 4,112 million; 5G plan net users increased by 1,006 million to reach 3.29 million. Revenue from fixed and smart home services grew 2.2% year-on-year, with cable broadband users reaching 1.92 billion. Industry digital business revenue grew 10.6% year-over-year, driving the deep integration of corporate digital technology and the physical economy. Financial statements are prepared according to international financial reporting accounting standards and are unaudited.