Source: Cynthia Lee/Alamy Stock Photo) China’s big three operators have just delivered some notably similar first-half results. For each of them, cloud and digital transformation drove topline growth, profit rose more than revenue and shareholder returns increased generously. China Telecom, the last to file, reported net earnings of 21.8 billion Chinese yuan (US3.1 billion), an 8.2% gain over last year, with revenue up 2.8% and service revenue 4.3% higher. Industry giant China Mobile said net profit had improved 5.3% to RMB80.2 billion ($11.2 billion), outpacing revenue, which rose 3% to RMB546.7 billion ($76.6 billion). China Unicom announced 11.3% higher net income of 13.8 billion ($1.93) on the back of a 2.9% lift in sales to RMB197.3 billion ($27.6 billion). Thanks to the halo effect that is attached to Chinese state-owned enterprises (SOEs) these days, the big three operators once again enjoyed healthy demand for their cloud and enterprise digitalization services. China Mobile says its digital transformation business grew 11% to RMB147.1 billion ($20.6 billion), accounting for 26% of all revenue. China Telecom reported digital industry sales of RMB73.7 billion ($10.3 billion), a 7% increase, and China Unicom said revenue grew 7% to RMB43.5 billion ($6.1 billion). Double-digit growth All […]
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