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Fly News Breaks for August 21, 2015
CHL
Aug 21, 2015 | 07:45 EDT
Bernstein believes that China Mobile's first half results were strong, as its EBITDA rose by 7.2% and its operating revenue advanced 4.9%, although its net profit dropped 0.8%. Bernstein points out that its results were negatively impacted by changes in VAT taxation and its sales and marketing model. The firm thinks that the company's Q2 results improved versus Q1. Bernstein expects the company's results to improve further going forward, and it keeps an Outperform rating on the shares.
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