China Mobile (941) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 was RMB263.8 billion, up 0.02% year-over-year; telecommunications services revenue rose 1.40% to RMB222.4 billion.

• EBITDA increased 3.44% year-over-year to RMB80.7 billion; profit attributable to equity shareholders grew 3.45% to RMB30.6 billion.

• Mobile customers totaled 1,003 million, with 578 million 5G network customers; wireline broadband customers reached 320 million.

Financial highlights

• Sales of products and others declined 6.82% year-over-year to RMB41.4 billion.

• EBITDA margin improved to 30.6% from 29.6% year-over-year.

• Profit before taxation was RMB39.3 billion, up 2.44% year-over-year.

• Basic and diluted EPS both rose to RMB1.42 from RMB1.38 year-over-year.

Outlook and guidance

• Management emphasized ongoing transformation, innovation, and high-quality growth, aiming to become a world-class information services and sci-tech innovation enterprise.

• The company is at a critical stage of strategic opportunities, business transformation, and intensive reforms.