China Mobile reports bigger profit in Q3

State-owned mobile operator China Mobile (CHL.NYSE, 0941.HKG, CTM.FRA) saw profit increase 1.3% year-on-year in the third-quarter as its handset subsidies attracted data users,  Bloomberg reported. The world’s largest operator by subscribers announced that net income reached US$5 billion, compared to last year’s US$4.9 billion, according to a filing with the Hong Kong Stock Exchange Monday. The figure was slightly above the median profit estimate of US$4.92 billion of seven analysts surveyed by Bloomberg. Sales increased 6.2% year-on-year to US$22.7 billion, in line with an analyst projection of US$22.66 billion. China Mobile’s share price increased 1.1% to HK$85.45 at the close of trading in Hong Kong on Monday, before profit figures were disclosed. “Overall growth was still only 1.3% year-on-year, so growth is still a problem for China Mobile,” said Lisa Soh, an analyst from Macquarie Group (MQG.ASX).