China Mobile suffers first profit fall since 1999

China Mobile's (CHL) net profit fell for the first time in 14 years in 2013, dropping 5.9% to 121.7B yuan ($19.6B) as the company increased infrastructure spending and handset subsidies. Free mobile-messaging services also hurt income.

Revenue climbed 8.3% to 630.18B yuan.

As of February 28, China Mobile had 775.6M customers.

China Mobile intends to increase capital expenditure 22% to 225.2B yuan ($36.34B) in 2014 as the operator looks to bolster its high-speed 4G network. (PR)

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Comments (5)
  • jbound
    , contributor
    Comments (456) | Send Message
    Load up on words like dropping and fell. Confident at these levels. May go a lot lower (just adding to the negative verbage).
    Full disclosure: I bought yesterday Japan time. Didn't look at price. Very Buffettable at these levels.
    20 Mar 2014, 06:40 AM Reply Like
  • Humble Eagles
    , contributor
    Comments (2761) | Send Message
    Agree. It dropped to 19.6Bn and still pays 4-5% dividend. This is a growth story imo. When the TD-LTE buildout is complete, you have massive data capability in a place where there was little before. I see cable company type advantages down the road.
    20 Mar 2014, 07:26 AM Reply Like
  • EquityInvestor1
    , contributor
    Comments (87) | Send Message
    The focus should be on revenue and user growth. Building out your own massive network is an investment in the future, VZ went through it and so did AT&T. Subsidies never hurt the carriers as they end up securing their future business playing this card as well as actually turning a profit on the subsidy.
    20 Mar 2014, 08:08 AM Reply Like
  • buyandhold???
    , contributor
    Comments (907) | Send Message
    users grew by 8% and thats with 700M+ on board thats incredible
    20 Mar 2014, 07:37 PM Reply Like
  • James Myung
    , contributor
    Comments (548) | Send Message
    Couple days of being patient paid off. Bought 900 shares today.
    21 Mar 2014, 12:41 PM Reply Like
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