China Mobile posts 22% rise in earnings

China Mobile, China's biggest wireless operator, said its first quarter net profit rose 22 % from a year earlier on continued rapid growth in its subscriber base, an Associated Press report said.

The Associated Press report said the company's net profit for the three months ended March 31 was 17.56 billion yuan ($2.28 billion), up from 14.36 billion yuan in the year-earlier period.

Earnings before interest, taxes and depreciation rose 13.8%, to 40.72 billion yuan  from 35.78 billion yuan the year before, the report said.

China Mobile's revenue in the three-month period increased to 77.71 billion yuan ($10.07 billion), from 65.02 billion yuan a year earlier, the report added.

The company added 14.89 million subscribers in the first quarter this year, up from the 14.08 million users it added in the fourth quarter of 2006, the report said.
It added 5.12 million subscribers in March, up from February's addition of 4.91 million subscribers, it added.