China Mobile profits inch down 0.8% in Q1

BEIJING -- China Mobile, one of the country's leading telecommunication operators, on Monday reported its net profits decreased by 0.8 percent year-on-year in the first quarter of 2020.

Profits attributable to equity shareholders stood at 23.5 billion yuan (about $3.32 billion) in the first three months, the company said in a statement.

Operating revenue totaled 181.3 billion yuan during the same period, down 2 percent year-on-year, of which revenue from telecom services was 168.9 billion yuan, a gain of 1.8 percent, according to the statement.

By the end of March, China Mobile had 946 million mobile subscribers. Among them, the company's 4G users reached 752 million, while its 5G subscribers amounted to 31.72 million, the statement said.