Rumor: China Mobile Lowers Performance Targets for 2013
Sina Tech, 1/14/13
According to an informed source, China Mobile (NYSE: CHL; 0941.HK) Chairman Xi Guohua has announced at an internal company meeting that the company has lowered its internal performance indicators and profit targets for 2013.
For the first nine months of 2012, China Mobile posted a net profit of RMB 93.31 bln, an increase of 1.4% YoY. The company added 3.80 mln new mobile subs in November 2012, 23% fewer than the 4.96 mln mobile subs added in October 2012 and the lowest number of monthly subscribers the company has added in seven years.
Editor's Note: For more background on this topic, please see "China Telcos Announce November 2012 Subscriber Totals" MD 12/20/12 issue and "China Mobile Q1-Q3 2012 Profit Grows 1.4% YoY" MD 10/22/12 issue.
Keywords: target Xi Guohua China Mobile profit wireless CHL 0941.HK