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Fly News Breaks for August 20, 2015
CHL, CHA
Aug 20, 2015 | 08:33 EDT
Bernstein notes that China Telecom's (CHA) service revenue increased 1.2% year-over-year last quarter. According to the firm, this increase was strong, given the impact of VAT and changes to the company's sales and marketing model. Excluding these factors, service revenue jumped 7%-10%, estimated the firm, which predicts that the company's business will improve going forward. Bernstein says that underlying mobile growth is strong as a result of 4G adoption and it keeps an Outperform rating on the shares. It thinks the results are a positive read through for China Mobile (CHL).
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