China Mobile (941) Q3 2025 earnings summary

Executive summary

• Operating revenue for the first three quarters of 2025 reached RMB794.7 billion, up 0.4% year-over-year, with telecommunications services revenue at RMB683.1 billion, up 0.8% year-over-year.

• Profit attributable to equity shareholders rose 4.0% year-over-year to RMB115.4 billion, with a margin of 14.5%.

• Mobile customers totaled 1,009 million, including 622 million 5G network customers; wireline broadband customers reached 329 million.

Financial highlights

• EBITDA increased 0.9% year-over-year to RMB265.4 billion, with an EBITDA margin of 33.4%.

• Profit before taxation was RMB146.8 billion, up 3.0% year-over-year.

• Earnings per share (basic) was RMB5.34, compared to RMB5.18 in the prior year period.

• Net cash generated from operating activities was RMB161.0 billion, down from RMB224.1 billion in the prior year.

Outlook and guidance

• The group aims to continue reforms, foster innovation, and pursue operational excellence to drive high-quality development and create greater value for shareholders and customers.

• Forward-looking statements caution that actual results may differ due to risks and uncertainties.